Tom Lee's Bitmine Keeps Buying Ethereum But Pivots to Record Share Buybacks

Bitmine, described as a crypto treasury company, added 10,452 ETH, lifting its holdings to 4.95% of the cryptocurrency’s supply. It also repurchased 2.04 million of its own shares. That repurchase was part of what the firm called the largest equity buyback any crypto treasury company has run, and the firm described the share repurchase as a bigger move than the ETH purchase. The buyback involved repurchasing company stock, while the ETH addition increased the firm’s cryptocurrency holdings.