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Bitmine Slows ETH Buy, Focuses on Shares | Bitcoin and Crypto News
Description
Bitmine slashes its Ethereum buying spree to a mere 7,391 ETH — the smallest weekly haul this year — as it nears its 5% ether target, pivoting instead to aggressive stock buybacks totaling $50M–$58M last week alone. Since July, they’ve repurchased 19.1 million shares, signaling a bold focus on shareholder value. Despite stalled U.S. crypto legislation, Bitmine’s chairman Tom Lee remains bullish, citing softer inflation and jobs data, plus a likely Fed pause in September, as tailwinds poised to lift crypto despite regulatory delays. With 209 Bitcoin and hefty cash reserves still on hand, Bitmine’s strategic recalibration hints at a resilient, asset-heavy future.
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