Update
Bitmine Buys Back Nearly 5% of Ether
Crypto firm Bitmine has spent over $400 million this year buying back its own shares, now controlling nearly 5% of all ether. The company's cryptocurrency holdings, cash, marketable securities, and strategic investments total approximately $15 billion, including 6,051,933 ETH valued at $2,356 per token. Bitmine has been continuously purchasing shares since June 30, 2025, and has now repurchased 2.04 million common shares at an average price of $22.48, bringing its total for 2026 to 22.9 million shares purchased for approximately $399.6 million. The company's chairman, Tom Lee, characterized the program as the largest common equity buyback ever executed by a cryptocurrency treasury company, subject to market conditions and under the existing repurchase authorization.