Tom Lee's Bitmine favors share buybacks to ether purchases as crypto declines

Bitmine Immersion Technologies resumed share buybacks after a roughly 10-week pause, repurchasing 2.04 million shares for about $45.9 million. It also acquired 10,452 ether, bringing its holdings to 6,051,933 ETH as chairman Tom Lee described the crypto-market decline as an opportunity.

• Bitmine bought back 2.04 million shares last week at an average $22.48 each, spending about $45.9 million; its reported 2026 buybacks reached 22.9 million shares.· 2 sources
• The company added 10,452 ETH, bringing its holdings to 6,051,933 ETH, or about 4.95% of Ethereum’s token supply.· 2 sources
• Bitmine reported staking about 86% of its ETH holdings and projected roughly $318 million in annualized staking revenue at current yields.· 2 sources