BitMine Cuts Weekly Buyback to 1.7M Shares as ETH Treasury Hits 5.82 Million
📉 BitMine Immersion Technologies (BMNR) repurchased only 1.7 million common shares in the week ending August 16, marking the smallest buyback since the program's inception and the third consecutive weekly decline.
💰 Despite adding 9,926 ETH, BitMine's total crypto and cash holdings decreased to $11.4 billion, with cash and marketable securities dropping to $78 million from $527 million since late June.
📈 Chairman Thomas Lee expressed optimism about the rising ETH/BTC ratio and noted that BitMine's ETH treasury now holds 5,815,164 tokens, representing 4.8% of the total ETH supply.
📉 BitMine Immersion Technologies (BMNR) repurchased only 1.7 million common shares in the week ending August 16, marking the smallest buyback since the program's inception and the third consecutive weekly decline.
💰 Despite adding 9,926 ETH, BitMine's total crypto and cash holdings decreased to $11.4 billion, with cash and marketable securities dropping to $78 million from $527 million since late June.
📈 Chairman Thomas Lee expressed optimism about the rising ETH/BTC ratio and noted that BitMine's ETH treasury now holds 5,815,164 tokens, representing 4.8% of the total ETH supply.