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BitMine Expands ETH Holdings and Initiates Share Buyback

BitMine has increased its ETH holdings to 5.79 million and repurchased 6.1 million shares, nearing its 5% ETH target.

Leonard Kravets
Leonard Kravets1 hour ago
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BitMine Expands ETH Holdings and Initiates Share Buyback

BitMine, led by Tom Lee, has expanded its Ethereum (ETH) holdings and initiated a significant share buyback. The company now holds 5.79 million ETH and has repurchased 6.1 million shares, approaching its target of having 5% of its assets in ETH.

The company reported total assets of $11.8 billion, with 4.92 million ETH staked. This move comes as the ETH/BTC ratio rises, which Lee suggests indicates stronger crypto prices ahead.

BitMine's decision to increase its ETH holdings and repurchase shares is seen as a strategic move to capitalize on Ethereum's recent performance, which has been outpacing Bitcoin.

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Leonard Kravets
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Leonard Kravets

cryptocurrency journalist and market analyst focused on the intersection of blockchain, culture, and real-world adoption. Known for his clear, data-driven writing style, he covers emerging altcoins, DeFi trends, and the risks behind hype-driven projects. With a strong emphasis on education, transparency, and spotting potential scams before they spread.

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