CoinTelegraph

Bitmine Adds $19.6M in ETH, Repurchases 4.5M Shares

August 4, 2026•12:52 AM

Cryptocurrency treasury company Bitmine Immersion Technologies has strengthened its market position by acquiring an additional 10,399 ETH and repurchasing 4.5 million of its own shares. With this move, Bitmine now holds approximately 4.8% of Ether's circulating supply, totaling 5.8 million ETH valued at $10.9 billion, as it pursues its target of 5% of the total ETH supply. Bitmine's strategy of cryptocurrency accumulation and share buyback demonstrates strong confidence in Ethereum's future. Beyond its extensive ETH portfolio, the company also holds 209 BTC, $173 million in cash and marketable securities, and equity stakes in Beast Industries and Eightco Holdings, with combined assets valued at $11.3 billion. This strategic positioning establishes Bitmine as one of the largest institutional holders of Ethereum, potentially influencing the market and ETH price.

This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.

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