Bitmin Immersion Technologies fell by almost 27% despite Tom Lee’s “President’s message” to strengthen confidence in the company of Ethereum Treasury.
Bitmine announced on Monday the new monthly series “the president’s message”, which is designed to give an overview of the wider Bitmin crypto plan.
During the presentation, Lee spoke of the long -term ether plan of the company, such as the detention of 5% of the offer and the projections of the future evaluation of the token.
A slide shared by the company on X also suggested that the implicit value of ether (ETH) could be $ 60,000, citing nameless research companies.
However, the messages did not resonate with shareholders, Bitmin (BMNR) shares lowering more than 11% to negotiate $ 35.11 during the negotiation day, then an additional 15% in negotiation.
It contrasts with its movement of shares in the days which followed its intention to buy ether, when the Bitmin stock skyroche more than 3,000% to an annual summit of $ 135 on July 3.
Bitmin says he’s 600,000 ether
During the presentation, Lee confirmed that Bitmin holds 600,000 ether worth more than $ 2.2 billion.
He said that Bitmin in the long term wanted to become a “validator network in America”, with 100% of “geographically in the United States”.
Lee said the company was trying to become a community participant in Ethereum to strengthen the ecosystem and doubled on the previously announced levels so that Bitmin to Detienne and takes 5% of the total ether supply.
In June, Vincent Liu, the director of investments at Kronos Research, told Cintelelegraph that cash deployments require “a well -planned strategy to protect capital and strengthen liquidity” because without “a clear execution and a long -term vision, it is unlikely that it offers sustained value”.
In relation: Crypto funds see $ 1.9 billion entries as ether leads weekly gains
Treasury bills could help the price boom
Meanwhile, David Grider, partner of the Capital-Risque Finality Capital company, said on Monday in an X post that the company of Ether Treasury “Boom should increase well for the flows of ETH and the action of prices similar to the impact that Microstrategy had on Bitcoin”, which should be good for Bitmin.
He also revealed that the purpose of capital had a position in Bitmin.
Other notable corporate ether buyers include Sharplink game with 438,000 ether, Bit Digital, which has more than 100,000 ETH, and Blockchain Technology Consensus Solutions, which increased its assets to 29,122 ETH following an increase of $ 62.4 million.
Ray Youssef, CEO of the Finance application, Noones, previously told Cintelegraph that he thought that companies consider Ethereum as a critical infrastructure component fueling an increase in the absorption of business treasures.
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