Bitmine adds $19.6M in ETH, repurchases 4.5M shares
The Ether treasury company now holds 5.8 million ETH worth $10.9 billion, representing 4.8% of circulating supply as it works toward a 5% target.
Bitmine Immersion Technologies acquired 10,399 Ether last week while simultaneously executing a share buyback programme, according to a Monday disclosure. The company's total Ether holdings stand at 5.8 million tokens, valued at $10.9 billion against a circulating supply of 120.7 million ETH.
Beyond its digital asset position, Bitmine holds 209 Bitcoin, $173 million in cash and marketable securities, and equity stakes in Beast Industries and Eightco Holdings. These combined holdings total $11.3 billion in value.
The share repurchase programme has now acquired 16.1 million common shares since July 1 under a $4 billion authorised buyback framework, with the latest 4.5 million shares purchased last week. The company has previously disclosed that approximately 85% of its Ether holdings are staked through validator operations.
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