Bitmine resumes buybacks; ETH stack nears 6.05M coins
Bitmine (Nasdaq: BMNR), the world's largest Ethereum treasury firm, resumed share buybacks after a 10-week pause, spending $45.9 million on 2.04 million shares, while adding 10,452 ETH to lift its holdings to 6.05 million ETH — worth about $14 billion — and keeping pace with chairman Tom Lee's cap of holdings at 5% of Ethereum's circulating supply.
Lee had said the shifting to buybacks-over-purchases as crypto declines, spending $46 million repurchasing its own stock and arguing crypto has held up better than AI stocks in the pullback. The stack still carries billions in unrealized losses from higher 2025 prices, with the five-year accumulation plan finished in just over one year, done "in the middle of a bear market."
Sources
- MARKETS: @fundstrat's @BitMNR resumes share buybacks after a 10-week pause, spending $45.9M on 2.04M shares, while adding 10,452 $ETH, bringing total holdings to 6.05M $ETH worth $14B. https://t.co/10CEVuFfqYx.com ↗
- Tom Lee's Bitmine favors share buybacks to ether purchases as crypto declinescoindesk.com ↗
- NEW: Ethereum treasury firm Bitmine ($BMNR) bought another 12,535 ETH worth roughly $30.4 million last week. The company now holds 6.04 million ETH and could reach its goal of owning 5% of Ethereum's supply in about five weeks. https://t.co/SUV189DqHox.com ↗
- NEW: Ethereum treasury firm Bitmine ($BMNR) bought another 12,535 ETH worth roughly $30.4 million last week. The company now holds 6.04 million ETH and could reach its goal of owning 5% of Ethereum's supply in about five weeks. https://t.co/XGZMsOkEsyx.com ↗
- Ether is about to lose a steady buyer as Tom Lee says Bitmine will stop token purchasescoindesk.com ↗
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