ethereum ·
BitMine Resumes Massive Stock Buybacks While Staking 5.23 Million ETH
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 in an October 7 video message that BitMine had completed its earlier buyback program on August 17. "When management believes Bitmine shares are relatively undervalued, the Company intends to accretively repurchase shares, subject to market conditions and under the existing repurchase authorization," Lee said.
Those repurchase plans now appear in the release's note on forward-looking statements. Last week's note carried no such item.
Staked Ether Rises to 5.23 Million BitMine reported 5,227,037 ETH staked as of October 25. The amount was frozen at 5,067,309 for almost three months. The company stakes through MAVAN, its Made in America Validator Network, and through outside partners.
Reported by cryptopotato.com.
