BitMine increased its ETH holdings by 96,798 coins last week, while Tom Lee expressed optimism about Ethereum's price performance in December.

BlockBeats News, December 1st, BitMine announced today that its holdings of cryptocurrency, cash, and "potential assets" have reached a total value of $12.1 billion. As of Eastern Time 6:30 PM on November 30th, BitMine's asset breakdown includes:

· 3,726,499 ETH (Ethereum);

· 192 BTC (Bitcoin);

· $36 million worth of Eightco Holdings (NASDAQ: ORBS) equity (a "potential asset");

· and $8.82 billion in unencumbered cash.

Thomas "Tom" Lee, Chairman of Fundstrat and BitMine, stated: "Over the past week, BitMine has acquired an additional 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 Federal Reserve is also poised to take several key actions in December, including ending quantitative tightening (QT) and is expected to cut interest rates again on December 10th. Now, more than seven weeks have passed since the liquidation event on October 10th, indicating that the crypto market has regained its direction. Taking everything into account, we believe these factors will create a positive tailwind for the ETH price, so we have increased our weekly ETH purchase amount by 39%."