Bitmine adds $19.6M in ETH, repurchases 4.5M shares
Bitmine Immersion Technologies added 10,399 Ether last week and bought back 4.5 million of its own shares as part of its ongoing crypto accumulation and stock repurchase plans. The company reported holdings of 5,797,813 ETH, valued at about $10.9 billion, equal to roughly 4.8% of Ether’s circulating supply. It is aiming to reach 5% of total ETH supply. Bitmine also held 209 Bitcoin, $173 million in cash and marketable securities, and equity stakes in Beast Industries and Eightco Holdings. Total crypto, cash, securities, and other investments were valued at $11.3 billion. Since July 1, Bitmine has repurchased 16.1 million common shares under its $4 billion buyback program, including last week’s 4.5 million shares. The update follows a prior July 28 disclosure that it had bought nearly 10,000 ETH and staked about 85% of its ETH holdings.
