Bitmine Immersion Technologies, Inc. (BMNR) saw a 12.62% drop in share prices due to Ethereum’s decline to $28.94 apiece. Bitmine raised its Ethereum ownership to 3,726,499 tokens with an average price of $3,008 apiece. Chairman Thomas Lee cites positive tailwinds for ETH prices in December.

Bitmine has achieved owning 3% of Ethereum’s total market supply and also holds Bitcoin and a stake in Eightco Holdings. Lee notes positive tailwinds for ETH prices in December and increased weekly purchases by 39%. The company sees potential in AI stocks for higher returns.

Chairman Thomas Lee anticipates a positive impact on Ethereum prices in December due to the Fusaka upgrade and Federal Reserve actions. Bitmine increased weekly ETH purchases by 39% and sees potential in AI stocks for higher returns with limited downside risk.

Read more at Yahoo Finance: Bitmine (BMNR) Drops 12.6% on Ethereum Fall