Bitmine Adds Ethereum Purchases and Shares Buyback
Ethereum treasury company Bitmine Immersion Technologies has added another $19.5 million worth of ETH to its holdings, bringing the total amount held by the firm to approximately 5.8 million ETH valued at around $10.9 billion. The purchase continues a year-long buying streak and positions Bitmine as one of the largest corporate holders of Ethereum, with about 4.8% of the circulating supply. Bitmine also announced that it repurchased 4.5 million shares under its ongoing buyback program, which has now totaled over $16 million in share repurchases since July 2026. The company's management views both ETH and its own stock as attractively valued assets, with Ethereum outperforming the Nasdaq 100 by 25 percentage points last month. The firm is staking around 85% of its holdings through its institutional platform MAVAN, projecting $247 million in annualized staking revenue. Bitmine's strategy reflects a broader trend among publicly traded companies shifting from Bitcoin to Ethereum treasuries.
Tickers: $BMNR
Topics: Bitmine Immersion Technologies corporate treasury Ethereum stock repurchase