While ETFs Bleed, BitMine Buys: A $6.6B+ Ethereum Treasury as Others Head for the Exits
🔑 Key Takeaways BitMine Immersion Technologies has amassed roughly $6.6B in ETH (≈1.52M ETH) , with subsequent disclosures and coverage indicating holdings rising toward $8B+ in late August. Contrarian accumulation amid broad risk-off . This build occurred as nearly $1B flowed out of BTC/ETH spot ETFs around the same period, highlighting a split between ETF flows and single-entity treasuries. Tom Lee (BitMine chairman) has publicly reiterated a long-duration ETH bull thesis; the firm continued buying dips with additional tens of millions of dollars in ETH. Image concept by CryptoQuibbler 🗞 Main Story As ETF investors rotated risk-off with ~$1B net outflows across BTC/ETH spot products in mid-August, BitMine Immersion (AMEX: BMNR) moved the other way—disclosing a surge in its Ethereum treasury to ≈1.52M ETH (~$6.6B) and, days later, signaling increases toward the $8B+ area via company releases and market coverage. CryptoQuibbler reads this as...