BitMine increased its holdings by 96,798 ETH last week, and Tom Lee is optimistic about the ETH market in December.

BlockBeats news, on December 1st, BitMine announced today that its holdings of crypto assets, cash, and “potential assets” total $12.1 billion. As of 6:30 PM Eastern Time on November 30th, BitMine's asset composition includes: · 3,726,499 ETH (Ethereum); · 192 BTC (Bitcoin); · $36 million worth of Eightco Holdings (NASDAQ: ORBS) equity (“potential assets”); · and $882 million in cash without liabilities. Fundstrat Chairman and BitMine Chairman Thomas “Tom” Lee stated: “Over the past week, BitMine has increased its holdings by 96,798 ETH tokens. Looking ahead to December, the Fusaka upgrade (also known as Fulu-Osaka) is set to activate on December 3rd, bringing a series of enhancements in scalability, security, and usability. The Fed will also take several key actions in December, including ending quantitative tightening (QT), and is expected to lower interest rates again on December 10th. It has been over seven weeks since the liquidation shock event on October 10th, which means the crypto market has regained direction. Overall, we believe these factors will create a favorable tailwind for ETH prices, so we have increased our weekly ETH purchase volume by 39%.”