According to an announcement published Monday, Bitmine Immersion Technologies now holds 5.78 million ether tokens, pushing its total crypto, cash, and equity stake holdings to $11.5 billion.
Key Takeaways
Bitmine’s ETH treasury hit 5.78 million tokens and $11.5 billion in total holdings on July 19.Bitmine repurchased 5.5 million shares at a $15.6156 average under its $4 billion buyback plan.Bitmine staked 4.9 million ETH through MAVAN, projecting up to $290 million in annual yield.Bitmine repurchased approximately 5.5 million shares of its own common stock over the past week at an average price of $15.6156, under a previously authorized $4 billion buyback program.
“We view the purchase of our common shares as accretive to shareholder value,” Lee detailed.
Staking Operation Scales Up Where Bitmine RanksBitmine was added to the Russell 1000 large-cap index on June 26. Its Series A Preferred Stock trades on the NYSE under the ticker BMNP.
Trading Range Reflects ETH CorrelationBitmine’s next weekly update will show whether the company continues adding ether at a reduced pace while its buyback program remains active, or resumes larger weekly purchases as it closes in on its 5% supply target.
