Bitmine Adds Ethereum as Share Buybacks Take Center Stage
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Tom Lee’s Bitmine bought 10,452 ETH and repurchased 2.04 million shares, shifting attention toward its equity buyback program.
Tom Lee’s Bitmine has continued expanding its Ethereum holdings, adding 10,452 ETH. The purchase brought its stake to 4.95% of the cryptocurrency’s supply, according to Decrypt.
Alongside the crypto acquisition, the company repurchased 2.04 million of its own shares, making equity buybacks a more prominent part of its latest activity.
Bitmine describes its repurchase program as the largest undertaken by a crypto treasury company. The share purchases come as the firm continues accumulating ETH rather than stepping back from its treasury strategy.
Source: Decrypt
