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Crypto

BMNR Stock Surges on $4 Billion Share Buyback

Guavy AI Editorial Team
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BTC ETH
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Bitmine Immersion Technologies (BMNR) has accelerated its $4 billion share repurchase program, buying back 6.1 million shares in the past week.

This brings the total number of shares repurchased to 11.6 million since July 1, making it the largest common stock buyback completed by any Ethereum or Bitcoin treasury company.

Chairman Tom Lee stated that the firm views the rising ETH/BTC ratio as a sign that crypto prices are strengthening.

Lee also forecasted that Ethereum (ETH) will rise further, setting a target of $2,500 per token.

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