CoinDesk·4 min read·medium
Tom Lee's Bitmine bought more ether, added to stock buyback last week
K
Krisztian Sandor
✦AI Summary
Bitmine has increased its Ethereum holdings to 5.8 million ETH while simultaneously repurchasing 4.5 million shares of its common stock. The company's CEO, Tom Lee, cited Ethereum's strong performance relative to tech stocks as the primary driver for this treasury strategy.
The purchase, worth roughly $19.1 million at ETH’s current price of $1,840, lifted Bitmine's holdings to almost 5.8 million ETH, or about 4.8% of Ethereum's circulating supply, according to the company's Monday update.
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