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

On December 1, BitMine announced today that the total value of its holdings in crypto assets, cash, and “potential assets” has reached $12.1 billion. As of 6:30 PM ET on November 30, 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 unencumbered cash. Fundstrat Chairman and BitMine Chairman Thomas “Tom” Lee stated: “In 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 3, 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 10. Now, over seven weeks have passed since the clearing shock event on October 10, indicating that the crypto market has regained direction. Overall, we believe these factors will create a positive tailwind for ETH prices, and as a result, we have increased our weekly ETH purchase volume by 39%.”