Bitmine, a company specializing in managing Ethereum wallets, has purchased more Ethereum while continuing to strengthen its investments in this alternative asset amid the current market downturn. This comes after Tom Lee's statement that they will keep buying assets in the market despite concerns over inflationary pressures caused by the US-Iran war. Bitmine added 40,000 Ethereum to its Ethereum treasury.

In a post on X platform, the blockchain analytics platform "Lookonchain" cited data from Arkam, indicating that the company apparently bought an additional 40,000 Ethereum worth $82 million today. This is the latest purchase by the largest Ethereum wallet management company, following its announcement of another weekly buy last week.

According to CoinGape, Tom Lee's company, Bitmine, acquired 71,179 Ethereum last week, bringing its total holdings to over 4.7 million Ethereum. The company's holdings represent approximately 4% of the total Ethereum supply, bringing it closer to its "Alchemy of 5%" goal of acquiring 5% of the total supply.

The company continues to buy more Ethereum (ETH) despite incurring an unrealized loss on its current investments in this asset. DropsTab shows that Tom Lee's company has incurred an unrealized loss of nearly $7.6 billion, with an average purchase price of $3,271 per Ethereum.