Bitmine Slows ETH Buys Amid $86M Stock Buyback, Holds 5.78M ETH
2026-07-20 20:51

Woofun AI reports that Bitmine Chairman Tom Lee attributed the recent deceleration in ETH purchases to a significant stock buyback program executed during the same period. Since initiating its ETH Treasury Strategy on June 30, 2025, the company has sustained a weekly purchasing rhythm. In the past week, Bitmine repurchased approximately 5.5 million ordinary shares at an average price of $15.6156 per share, aiming to enhance shareholder value. The firm's proprietary staking operations generated a 2.67% annualized yield over the last seven days. Bitmine currently holds roughly 5.78 million ETH, with about 4.9 million ETH staked, representing 85% of total holdings. The estimated annualized revenue from this Ethereum staking business stands at approximately $247 million.

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ETH
Tom Lee
Bitmine
Ethereum
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