BitMine Scales Back Share Buyback as Ethereum Treasury Hits Record

BitMine Immersion Technologies (BMNR) has scaled back its weekly share buyback to 1.7 million common shares, marking the smallest purchase since the program began on July 1.

This is the third consecutive week of declining buybacks, with the company's Ethereum treasury growing to 5,815,164 tokens by August 16.

The total value of BitMine's crypto, cash, and 'moonshot' holdings decreased slightly to $11.4 billion from $11.6 billion a week earlier, despite adding 9,926 ETH during the period.