Bitmine Accelerates Stock Buybacks And Continues Buying Ethereum CryptoProwl Tue, August 4, 2026 at 9:30 PM GMT+8 1 min read 
Bitmine Accelerates Stock Buybacks And Continues Buying Ethereum Bitmine Immersion Technologies (NYSE: $BMNR) has accelerated its stock buybacks even as it continues making weekly purchases of Ethereum (CRYPTO: $ETH).
The company led by Chairman Tom Lee has increased its $4 billion U.S. share repurchase program, buying back 4.5 million BMNR shares over the past week.
Bitmine has now repurchased more than 15 million of its own shares since July 1, which it says is the largest common stock buyback completed by any cryptocurrency treasury company.
More From Cryptoprowl:
-
Ramp Network Brings Multichain Wallet and Rewards to EU
-
MEXC Expands Ondo Tokenized Stock Offerings with AI Infrastructure and Mining Assets
-
HSC Conference To Bridge Digital Assets And Institutional Finance In Ho Chi Minh City
-
MEXC Integrates World-Check to Fortify Institutional Grade Compliance Architecture
-
MEXC Ventures Supports Alpha Arena's APAC Debut at Coinfest Bali
The stock buybacks occurred as the company also bought another 10,399 Ethereum over the past week, bringing its holdings to nearly 5.8 million ETH, equivalent to 4.8% of the cryptocurrency's circulating supply.
Bitmine's latest ETH purchases were worth $19.5 million U.S. The company has a stated goal of owning 5% of Ethereum's available supply.
The company now holds 5,797,813 Ethereum worth $10.9 billion U.S. based on the current ETH price of $1,880 U.S.
Lee has said that he considers Bitmine's stock to be undervalued at current levels, which is why the company has sped up its share repurchases.
Additionally, Lee has a $2,500 U.S. price target on Ethereum, which he says the digital asset should reach once the current "crypto winter" ends.
BMNR stock has declined 44% this year to trade at $17.42 U.S. per share.
Terms and Privacy Policy Privacy Dashboard More Info