Bitmine Adds $19.6M in Ether as it Continues Accumulation and Share Buyback

Bitmine Immersion Technologies has continued its aggressive accumulation of Ether (ETH), purchasing another 10,399 units last week. This brings the company's total ETH holdings to 5,797,813, worth approximately $19.6 million at current prices.

The purchased ETH represents about 4.8% of the circulating supply of Ethereum, with Bitmine aiming for a target of 5%. The company's Ether treasury is now valued at over $10.9 billion.

Bitmine has also been active in repurchasing its own shares under its $4 billion buyback program, which was authorized back in July. The company has already purchased 16.1 million common shares since then, with the latest purchase adding another 4.5 million to that total.