The firm now holds 4.8% of Ether’s circulating supply as it nears its 5% acquisition target under a $4B buyback plan.
Bitmine Immersion Technologies increased its Ether holdings by $19.6 million last week, bringing its total ETH stash to 5.8 million tokens valued at $10.9 billion. The purchase represents 4.8% of Ether’s 120.7 million circulating supply, edging closer to its 5% target.
The company also repurchased 4.5 million shares under its $4 billion buyback program, adding to the 16.1 million shares bought since July 1. Bitmine’s portfolio includes 209 Bitcoin, $173 million in cash and securities, and equity stakes in two subsidiaries, totaling $11.3 billion in assets.
Bitmine’s latest move follows a July 28 disclosure of nearly 10,000 ETH purchased, with 85% of its holdings staked through validator operations.