BitMine Immersion Technologies (BMNR) said on Monday it bought back 2.04 million of its own shares last week, its first reported repurchase since mid-August.<\/p>\n
The company paid<\/a> an average of $22.48 per share. That takes its 2026 buyback to 22.9 million shares, bought for $399.6 million at an average of $17.48. Chairman Tom Lee said in an October 7 video message that BitMine had completed<\/a> its earlier buyback program on August 17.<\/p>\n \u201cWhen management believes Bitmine shares are relatively undervalued, the Company intends to accretively repurchase shares, subject to market conditions and under the existing repurchase authorization,\u201d Lee said.<\/p>\n Those repurchase plans now appear in the release\u2019s note on forward-looking statements. Last week\u2019s note carried no such item.<\/p>\n BitMine reported 5,227,037 ETH staked as of October 25. The amount was frozen at 5,067,309 for almost three months.<\/p>\n The company stakes through MAVAN, its Made in America Validator Network, and through outside partners. Lee put annualized staking revenue at $318 million on the ether staked today. Fully staked, he said, the treasury would earn $368 million at a 2.58% seven-day yield.<\/p>\n The treasury itself grew by 10,452 ETH over the week, to 6,051,933 tokens. That buy was smaller than the 12,535 ETH BitMine added<\/a> a week earlier, and it was its smallest since the week to August 16. BitMine now holds 4.95% of the 122.2 million ETH in supply, against its 5% goal.<\/p>\n Lee said crypto was pulled down by the same risk-off forces behind the selloff in AI stocks. He said ether has fallen 13% from its recent peak, while US semiconductor stocks, tracked by SOXX, are down 20% over the same stretch.<\/p>\n \u201cWe believe this is further evidence that a crypto bull market is underway,\u201d Lee stated.<\/p>\n BitMine marked its ether at $2,356 per token, using Coinbase prices. At that level, its crypto, cash, and equity stakes total $15 billion. Cash and marketable securities fell to $514 million, the fifth weekly decline in a row from $714 million on September 20, as the ETH purchases continue for almost a year and a half straight.<\/p>\n The company also holds 215 Bitcoin (BTC), a $180 million stake in Beast Industries, and a $76 million position in Eightco Holdings (ORBS).<\/p>\n The post BitMine Resumes Massive Stock Buybacks While Staking 5.23 Million ETH<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" BitMine Immersion Technologies (BMNR) said on Monday it bought back 2.04 million of its own shares last week, its first reported repurchase since mid-August. The company paid an average of $22.48 per share. That takes its 2026 buyback to 22.9 million shares, bought for $399.6 million at an average of $17.48. Chairman Tom Lee said […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-244231","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/244231"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=244231"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/244231\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=244231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=244231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=244231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Staked Ether Rises to 5.23 Million<\/h2>\n
Bull Market Ongoing?<\/h2>\n