Ethereum
Bitmine Adds 10,399 Ether, Nears 5% Supply Target
Bitmine Immersion Technologies purchased over 10,000 Ether last week and repurchased 4.5 million shares as it edges closer to its 5% supply goal.
Bitmine Immersion Technologies acquired 10,399 Ether in the latest purchase, bringing its total holdings to 5,797,813 ETH worth approximately $10.9 billion. This stockpile represents about 4.8% of Ether's circulating supply of roughly 120.7 million coins, edging the company closer to its stated goal of owning 5% of all Ether.
The company also repurchased 4.5 million shares of its own stock during the same period, continuing a buyback program launched on 1 July. To date, Bitmine has repurchased 16.1 million shares under a $4 billion authorization.
Bitmine's portfolio extends beyond Ether. The company holds 209 Bitcoin alongside $173 million in cash and marketable securities. It also maintains equity stakes in Beast Industries and Eightco Holdings. Combined, these assets bring the company's total holdings to $11.3 billion. Around 85% of Bitmine's Ether holdings are staked through the company's validator operations.
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