Bitmine added 10,452 ETH while executing a record $2.04M share buyback, signaling confidence in Ethereum and crypto markets.
Macro & Markets ·
Bitmine added 10,452 ETH to its holdings, bringing its total to 6,051,933 ETH and reaching 4.95% of Ethereum's supply, while simultaneously executing a share buyback of 2.04 million shares valued at approximately $399.6 million—which the company describes as the largest equity repurchase ever undertaken by a crypto treasury firm. Chairman Tom Lee characterized the stock purchases as a value play conducted when shares appeared undervalued, reflecting a broader pivot by major crypto treasuries away from fresh digital asset accumulation and toward repurchasing their own equity. The development mirrors a similar move by Michael Saylor's MicroStrategy, which paused Bitcoin purchases this week to spend $204.9 million on preferred share buybacks.