BitMine Immersion Technologies bought the dip, adding 202,037 ETH worth $838 million to its total holdings of 3,032,188 ETH valued at over $12.5 billion. It also holds $220 million in BTC and $239 million in assets, becoming the largest publicly traded Ethereum treasury company.

BitMine aims to accumulate 5% of the entire Ethereum token supply, with its latest purchase bringing it more than halfway there at an average price of $4,154 per ETH. This comes after ETH dropped to $3,686 due to $19 billion in crypto liquidations from Trump’s trade war threats.

Investors are optimistic about Ethereum’s performance, predicting a 94% likelihood of it staying above $3,800. BitMine’s stock (BMNR) rose by 4.35% on Monday to $54.75 after buying the dip. MARA Holdings also added $46 million in BTC during the market’s downturn.

Read more at Yahoo Finance: Tom Lee’s BitMine Adds $838 Million More in Ethereum Amid Market Chaos