Tom Lee's Bitmine Buys 9,946 ETH as ETH/BTC Ratio Hits 3-Month High
According to a Monday company update, Bitmine purchased 9,946 ETH worth roughly $19.4 million, lifting total holdings to 5,787,414 ETH worth $11.2 billion, or 4.8% of Ethereum’s entire circulating supply. The company also accelerated its share buyback, repurchasing 6.1 million shares compared to 5.5 million the week prior. Lee said the 11.6 million total shares repurchased since July 1 mark the largest common stock buyback ever executed by any ETH or Bitcoin (CRYPTO: BTC) digital asset treasury.