Bitmine Accelerates Ethereum Purchases as Treasury Value Hits $11.2 Billion

Bitmine Immersion Technologies (NYSE: BMNR) has significantly expanded its Ethereum treasury by purchasing 9,946 ETH at a reference price of $1,948 per ETH. This purchase brings Bitmine's total holdings to 5,787,414 ETH, which is approximately 4.8% of all Ether in circulation.

This acquisition is part of Bitmine's dual capital allocation strategy, which focuses on both digital assets and shareholder returns. The company has also increased its share buyback activity, repurchasing 6.1 million common shares over the past week under its $4 billion buyback program.

Bitmine's Ethereum purchases have accelerated in recent weeks, with the company purchasing 7,430 ETH on July 20 and adding another 9,946 ETH to its treasury on July 27. The total value of Bitmine's crypto assets, cash, marketable securities, and strategic investments now exceeds $11.8 billion.