Bitmine Surpasses $11 Billion in Ethereum Holdings Amid Ongoing Share Repurchase Efforts
Bitmine Immersion Technologies (BMNR) has announced that its Ethereum holdings have reached 5.82 million tokens, representing approximately $11 billion at current prices. This milestone comes just 14 months after the company embarked on its goal of acquiring 5% of the total ETH coin supply.
As part of this strategy, Bitmine has been actively repurchasing shares of common stock under its previously authorized $4 billion share repurchase program. Over the past week alone, the company acquired nearly 2 million shares, bringing the total number of shares repurchased to over 20.8 million since July.
Thomas 'Tom' Lee, Chairman of Bitmine, stated that the recent increase in the ETH/BTC ratio above a long-term downtrend is a sign that markets are beginning to recognize the potential benefits of tokenization and agentic-AI applications on the Ethereum network.