Data: BitMine increased its holdings by over 203,800 ETH last week, bringing its total holdings to 3.24 million, accounting for 2.7% of the total supply

ChainCatcher news, according to PR Newswire, BitMine Immersion Technologies today announced that its total portfolio of crypto assets, cash, and "strategic investments" has reached $13.4 billion.

As of October 19 at 6:30 PM Eastern Time, the company's crypto asset holdings include: 3,236,014 ETH, 192 BTC, $119 million in Eightco Holdings (NASDAQ: ORBS) equity, and $219 million in unrestricted cash.

BitMine Chairman and Fundstrat analyst Tom Lee stated, "Last week, the crypto market experienced the largest deleveraging event in history, putting pressure on ETH prices. Currently, the open interest in ETH has fallen back to the levels seen on June 30 of this year (when ETH was $2,500).

Given the anticipated supercycle for Ethereum, the current price dislocation presents an attractive risk-reward ratio. We have increased our holdings by 203,826 ETH over the past week, bringing our total holdings to 3.24 million ETH, which represents 2.7% of the total ETH supply."