BitMine needs 103,698 more ETH to reach its stated 5% supply target. At its Sept. 27 reference price, that would cost about $280 million, or 42% of its reported cash and marketable securities.
The company has not earmarked those funds for ETH purchases. It has already used buybacks alongside accumulation, spending roughly $85.9 million on its own shares in July while slowing ETH buying that week.
The company has not earmarked those funds for ETH purchases. It has already used buybacks alongside accumulation, spending roughly $85.9 million on its own shares in July while slowing ETH buying that week.
