The post Tom Lee’s BitMine Buys More Ethereum—But Both ETH and BMNR Are Diving appeared on BitcoinEthereumNews.com. In brief Bitcoin miner BitMine Immersion last week bought more ETH. The NYSE-listed firm now holds over $10 billion in the asset. But its stock—and the price of ETH—plunged on Monday. Bitcoin miner BitMine Immersion announced Monday that it had added more than $265 million in Ethereum to its treasury last week based on current prices, but the company’s stock plunged 12% as ETH and other crypto prices slumped.  NYSE-listed BitMine, which was trading at $29.10 per share after surging near $35 on Friday, said that it had bought 96,798 ETH.  The firm said that it currently holds 3,726,499 ETH, worth $10.1 billion and 192 Bitcoin worth nearly $16 million at today’s prices. BitMine added that it also had unencumbered cash of $882 million, and a $36 million stake in crypto treasury Eightco. BitMine’s stock is up 301% year-to-date, according to Yahoo Finance data.   ETH’s price is down by 9.7% over a 24-hour period, and was recently changing hands for $2,745 per coin. BitMine paid an average $3,008 for its Ethereum.  The asset is 45% below its August record of $4,946, although BitMine Immersion Chair and Fundstrat Global Advisors Managing Partner Tom Lee said in a statement that markets had stabilized after plummeting earlier this fall.  “We are now more than seven weeks past the October 10th liquidation shock event, meaning the crypto market has found its bearings again,” he said. “Collectively, we see these acting as positive tailwinds for ETH prices and thus, we stepped up our weekly purchases of ETH by 39%.” Crypto markets brutal October crash wiped out a record $19 billion in open interest.  During this price slump, crypto treasuries have come under new scrutiny. On Monday, Strategy, the largest company in the category, announced that it had formed a $1.44 billion U.S. dollar reserve… The post Tom Lee’s BitMine Buys More Ethereum—But Both ETH and BMNR Are Diving appeared on BitcoinEthereumNews.com. In brief Bitcoin miner BitMine Immersion last week bought more ETH. The NYSE-listed firm now holds over $10 billion in the asset. But its stock—and the price of ETH—plunged on Monday. Bitcoin miner BitMine Immersion announced Monday that it had added more than $265 million in Ethereum to its treasury last week based on current prices, but the company’s stock plunged 12% as ETH and other crypto prices slumped.  NYSE-listed BitMine, which was trading at $29.10 per share after surging near $35 on Friday, said that it had bought 96,798 ETH.  The firm said that it currently holds 3,726,499 ETH, worth $10.1 billion and 192 Bitcoin worth nearly $16 million at today’s prices. BitMine added that it also had unencumbered cash of $882 million, and a $36 million stake in crypto treasury Eightco. BitMine’s stock is up 301% year-to-date, according to Yahoo Finance data.   ETH’s price is down by 9.7% over a 24-hour period, and was recently changing hands for $2,745 per coin. BitMine paid an average $3,008 for its Ethereum.  The asset is 45% below its August record of $4,946, although BitMine Immersion Chair and Fundstrat Global Advisors Managing Partner Tom Lee said in a statement that markets had stabilized after plummeting earlier this fall.  “We are now more than seven weeks past the October 10th liquidation shock event, meaning the crypto market has found its bearings again,” he said. “Collectively, we see these acting as positive tailwinds for ETH prices and thus, we stepped up our weekly purchases of ETH by 39%.” Crypto markets brutal October crash wiped out a record $19 billion in open interest.  During this price slump, crypto treasuries have come under new scrutiny. On Monday, Strategy, the largest company in the category, announced that it had formed a $1.44 billion U.S. dollar reserve…