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

Bitmine Immersion Technologies, an Ether treasury company, continues its accumulation and stock-buyback program by purchasing more ETH and repurchasing shares. Last week, Bitmine bought another 10,399 Ether, bringing its total holdings to 5,797,813 ETH worth $10.9 billion. This represents about 4.8% of the circulating supply of Ether, with a target of reaching 5%.

The company also held 209 BTC, $173 million in cash and marketable securities, and equity stakes in Beast Industries and Eightco Holdings. Its combined investments were valued at $11.3 billion.

In addition to the latest purchase, Bitmine has repurchased 16.1 million common shares since July 1 under its previously authorized $4 billion buyback program. This includes the 4.5 million shares purchased last week.