Bitmine Immersion Technologies sank almost 27% despite a “chairman’s message” from Fundstrat’s Tom Lee to strengthen the confidence of the Ethereum treasury company.
Bitmine on Monday announced the new series “The Chairman’s Message”, designed to provide insight into Bitmine’s Crypto’s broader plan.
At the time of the presentation, Lee discussed the company’s long-term ether’s ether plan, such as handling 5% of the supply, and the hopes of future token appreciation.
A slide shared by the firm with X also suggested the indicated amount of ether (Eth) can be $ 60,000, citing unnamed research companies.
However, messages failed to reflect shareholders, with bitmine stocks (BMNR) Dropping More than 11% to trade at $ 35.11 on the day of trading and then another 15% in the after -time trade.
It contrasts with its stock movement in the days after Announced its plans to buy etherWhen the stock of bitmine Skyroketed More than 3,000% up to an annual high $ 135 on July 3.
Bitmine says it has 600,000 ether
During the presentation, Lee confirmed Bitmine holds 600,000 ether worth more than $ 2.2 billion.
She is Says Long -term, Bitmine wants to be a “Made in America Validator Network,” with 100% of “geography operations in the United States.”
Lee says the company is working toward being a community participant at Ethereum to strengthen the ecosystemand duplicated with previously announced plans for Bitmine to handle and stakes 5% of the total ether supply.
In June, Vincent Liu, the chief investment official in Kronos Research, told Cointelegraph Treasury’s rollouts need “A good planned approach to protect the capital and strengthen the liquidity” because without “clear implementation and long -term perspective, it is not likely to deliver long amounts.”
Related: Crypto funds View $ 1.9B flows while Ether is leading the weekly gains
Ether wealth can help with booming the price
Meanwhile, David Grider, a partner at Venture Capital Firm Finality Capital, Says In an X post on Monday that the Ether Treasury’s Ether company “Boom should be well -versed for ETH flows and price actions similar to the effect of Microstrategy on Bitcoin,” which should be good for Bitmine.
He also announced that finality capital is in a position in Bitmine.
Other well -known corporate ether consumers Include Sharpink gaming with 438,000 etherBit Digital, which has More than 100,000 ET.
Ray YouSsef, CEO of Finance App Noones, previously told cointelegraph that He thinks corporations look at Ethereum As a critical infrastructure component that puts a flow to the corporate treasures.
Magazine: Tradfi builds Ethereum L2S to i -tacenize trillion in RWAs: Inside Story
