Bitmine Stashes 9,926 ETH, Pushing Ethereum Vault to $11B
Bitmine scooped up nearly 10,000 Ether last week while relentlessly buying back its own stock.
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Key takeaways
- Bitmine purchased 9,926 ETH last week.
- Total company holdings sit at 5.82 million ETH, valued near $11 billion.
- The firm has repurchased 20.8 million of its own shares since July.
Bitmine isn't tapping the brakes. The company grabbed another 9,926 ETH over the past week, pushing its total corporate stash to roughly 5.82 million tokens.
That vault sits at nearly $11 billion now. It's not just crypto, either. Bitmine has been eating up its own equity too, repurchasing 20.8 million shares since July.
Why it matters
When heavy corporate buyers hoard millions of Ether off the market, open supply evaporates. Spot liquidity dries up fast. That creates real upward price pressure over time. By pairing token accumulation with aggressive stock buybacks, Bitmine is doubling down on a balance sheet move that links its corporate fate straight to Ethereum's long game.
Source: The Block
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