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

Bitmine Immersion Technologies, an Ether treasury company, has continued its accumulation of crypto assets and stock buyback program. The company purchased another 10,399 Ether last week, bringing its total holdings to 5,797,813 ETH valued at $19.6 million.

This represents about 4.8% of the circulating supply of Ether, with Bitmine aiming for a target of 5%. In addition to its ETH holdings, the company also holds 209 Bitcoin, $173 million in cash and marketable securities, and equity stakes in Beast Industries and Eightco Holdings.

The combined value of these investments is around $11.3 billion. As part of its buyback program, Bitmine has repurchased 16.1 million common shares since July 1 under a previously authorized $4 billion plan.