Bitmine Slows Ethereum Purchases As It Buys Back Stock

Bitmine Slows Ethereum Purchases As It Buys Back Stock CryptoProwl Mon, July 20, 2026 at 3:35 PM GMT+2 1 min read BMNR ETH-USD Bitmine Slows Ethereum Purchases As It Buys Back Stock Bitmine Immersion Technologies (NYSE: $BMNR) slowed its purchases of Ethereum (CRYPTO: $ETH) over the past week as it moved to buyback its own stock. The company led by Chairman Tom Lee bought 7,430 Ethereum over the last week, slowing its buying as it redirected capital to share repurchases. The latest ETH purchase, worth $14 million U.

S. , lifted BitMine's holdings to 5. 78 million Ethereum, or roughly 4.

8% of the cryptocurrency's total circulating supply. More From Cryptoprowl: Major U. S.

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5 million of its own shares at an average price of $15. 62 U. S.

under its previously authorized $4 billion U. S. stock buyback program.

Bitmine's total Ethereum holdings currently stand at $11. 50 billion U. S.

with ETH trading at $1,872 U. S. on July 20.

The company added in its latest disclosure that it has staked 4. 92 million Ethereum, or about 85% of its holdings, giving it projected annualized revenue of $247 million U. S.

BMNR stock has fallen 60% over the past 12 months to trade at $15. 69 U. S.

per share.