Bitmine Slows Ethereum Purchases, Redirects Capital Toward Stock Buybacks
Bitmine Immersion Technologies has reduced its weekly purchases of Ethereum as it reallocates capital to repurchase shares under a $4 billion buyback program. The company now holds 5.78 million ETH (about 4.8% of the circulating supply), valued at approximately $11.50 billion, and plans to stake most of its holdings for projected annualized revenue.
Tickers: $BMNR
Topics: capital allocation Ethereum stock buyback treasury strategy