Bitmine Accelerates Stock Buybacks And Continues Buying Ethereum

3 weeks ago 8

CryptoProwl

Tue, August 4, 2026 astatine 8:30 AM CDT 1 min read

Bitmine Immersion Technologies (NYSE: $BMNR) has accelerated its banal buybacks adjacent arsenic it continues making play purchases of Ethereum (CRYPTO: $ETH).

The institution led by Chairman Tom Lee has accrued its $4 cardinal U.S. stock repurchase program, buying backmost 4.5 cardinal BMNR shares implicit the past week.

Bitmine has present repurchased much than 15 cardinal of its ain shares since July 1, which it says is the largest communal banal buyback completed by immoderate cryptocurrency treasury company.

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The banal buybacks occurred arsenic the institution besides bought different 10,399 Ethereum implicit the past week, bringing its holdings to astir 5.8 cardinal ETH, equivalent to 4.8% of the cryptocurrency's circulating supply.

Bitmine's latest ETH purchases were worthy $19.5 cardinal U.S. The institution has a stated extremity of owning 5% of Ethereum's disposable supply.

The institution present holds 5,797,813 Ethereum worthy $10.9 cardinal U.S. based connected the existent ETH terms of $1,880 U.S.

Lee has said that helium considers Bitmine's banal to beryllium undervalued astatine existent levels, which is wherefore the institution has sped up its stock repurchases.

Additionally, Lee has a $2,500 U.S. terms people connected Ethereum, which helium says the integer plus should scope erstwhile the existent "crypto winter" ends.

BMNR banal has declined 44% this twelvemonth to commercialized astatine $17.42 U.S. per share.

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