Tom Lee-related Bitmine continued to grow last week, buying 52,203 ETHs, with a turnover of about $92 million, while the market rebounded. According to the data, Bitmine currently holds a total of 5,672,956 ETH, valued at about $10 billion, which is one of the recent large-scale cases of market interest.

The silo continues to expand.

This new purchase took place at a time when ETH prices continued to be under pressure. According to the report, ETH had fallen by 2.51 per cent by 24 hours, up to $1,689.19 in the Times. At the same time, the cash ETH ETF recorded a net outflow of $66.1 million on 22 June, indicating that the cash position was still not significantly stronger.

In addition to the live warehouse, Bitmine used 4,718,677 ETHs for pledge, valued at approximately $8.2 billion, at an average price of approximately $1,733 per unit. That is to say, the company is not simply hoarding up at a low level, but is simultaneously expanding its pledge position.

  • New Purchase: 52,203 ETH
  • Total holding: 5,672,956 ETH
  • Number of pledged: 4,718,677 ETH

Company bets last until 2026

Tom Lee says the company plans to continue to grow steadily until 2026. He described the current phase as the early days of a new round of encrypted cattle markets, and believed that monetization and AI development would continue to push up the need for block chains and decentrized networks.

He also mentioned that the company wanted to achieve the so-called “5 per cent alchemy” target by 2026. The original text did not further explain the specific way in which the objective was calculated, but the core idea of Bitmine, in terms of its presentation, was to enlarge the exposure to long-term ecological growth in the Taipo.

Fragmentation of the chain with derivative signals

Market data do not give a consistent direction. The CoinGlass data show that ETH ' s unsalary contract weighted fund rate remained largely positive at the time of the release, indicating that there was no significant exit from multiple positions in the derivatives market.

Since June, however, ETH exchanges have been flowing more frequently. As prices continue to fall, both outflows and inflows occur along the chain. Reports indicate that the recent increase in the size of exchange deposits may mean that some of the holders are moving ETH to a trading platform to be sold or to wait for trading opportunities after increased fluctuations.

In terms of the distribution of liquidity, $1,900 and $1,600 have gathered more leverage in the vicinity. If ETH has a clear breakthrough in either direction, these areas could trigger larger silos.

Overall, Bitmine's continued purchases are in stark contrast to ETF outflows and weak prices. Short-line market sentiment is still shaky, but the silo of derivatives and the growth of large institutions indicate that some of the funds are still being held for subsequent rehabilitation of ETH.