Tom Lee's Bitmine Turns to Share Buybacks Amid Crypto Dip

Bitmine Immersion Technologies (BMNR) says it acquired 2.04 million shares last week at an average price of $22.48, totaling about $45.9 million. This move follows a roughly 10-week pause and forms part of a larger 2026 program that has now reached 22.9 million shares repurchased for $399.6 million at an average of $17.48 – the biggest equity buyback by any crypto treasury company. The company holds 6,051,933 ETH, equal to 4.95% of the total 122.2 million ETH supply, plus 215 Bitcoin (BTC), $514 million in cash and marketable securities, and stakes including $76 million in Eightco and $180 million in Beast Industries, bringing total crypto, cash, and moonshot holdings to $15 billion.