Bitmine adds 10,399 ETH and expands buyback
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- Bitmine bought 10,399 ETH worth about US$19.5 million, lifting its holdings to nearly 5.8 million ETH.
- The company also repurchased 4.5 million shares under its existing US$4 billion buyback programme.
- Bitmine said its Ethereum holdings now represent about 4.8% of circulating supply, near its 5% target.
Bitmine Immersion Technologies bought 10,399 Ethereum (CRYPTO:ETH) worth about US$19.5 million during the past week.
Bitmine now holds 5,797,813 ETH, worth about US$10.9 billion at an Ethereum price near US$1,880.
“Bitmine repurchased 4.5 million shares of common stock in the past week,” said Bitmine Chairman Tom Lee.
The company said its Ethereum holdings represent about 4.8% of circulating supply, putting it 96% towards its 5% target.
Bitmine also repurchased 4.5 million shares last week under its previously authorised US$4 billion share buyback programme.
About 4.9 million ETH, or roughly 85% of Bitmine's holdings, is staked through its institutional MAVAN platform.
Bitmine bought 101,627 ETH in April, added 126,971 ETH in June and purchased another US$49 million worth in July.
At the time of reporting, Ethereum price was $1,847.64.
