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Crypto

BitMine Shares Soar on Buyback Update and Ether Holdings Increase

Guavy AI Editorial Team
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BTC ETH
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BitMine Immersion Technologies saw its shares surge 12.8% to $17.81 following an update on its buyback program and increased ether holdings.

The company acquired 9,946 ETH in the latest purchase, which contributed approximately 14% of the per-share rise.

A total of 6.1 million shares were bought back by BitMine, accounting for about 86% of the increase in ether per share.

Chairman Tom Lee stated that the company increased its equity buyback and highlighted a three-month peak in the ETH/BTC ratio, indicating stronger cryptocurrency prices.

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