Bitmine Adds $19.6 Million in ETH, Repurchases 4.5 Million Shares

Bitmine Immersion Technologies is continuing its crypto accumulation and stock-buyback program. The company recently purchased an additional 10,399 Ether (ETH) last week, taking its total holdings to 5,797,813 ETH worth $10.9 billion.

This represents about 4.8% of the circulating supply of Ethereum, with Bitmine aiming to reach a target of 5% of the total supply. The company's Ether treasury is valued at approximately $19.6 million.

In addition to its ETH holdings, Bitmine also owns 209 Bitcoin (BTC) and has $173 million in cash and marketable securities. Its equity stakes in Beast Industries and Eightco Holdings are worth a combined total.

Under its previously authorized $4 billion buyback program, Bitmine has repurchased 16.1 million common shares since July 1, including the recent purchase of 4.5 million shares last week.