cointelegraph.com
Ether treasury company Bitmine Immersion Technologies bought another 10,399 Ether last week and repurchased 4.5 million of its shares as it continued its crypto accumulation and stock-buyback program.
On Monday, Bitmine said it held 5,797,813 Ether ($ETH) worth $10.9 billion. The company said its $ETH holdings represent about 4.8% of Ether’s 120.7 million circulating supply. Bitmine is pursuing a target of 5% of the total $ETH supply.
The company also held 209 Bitcoin (BTC), $173 million in cash and marketable securities, and equity stakes in Beast Industries and Eightco Holdings. Its combined crypto, cash, securities and other investments were valued at $11.3 billion.
Bitmine said it has repurchased 16.1 million common shares since July 1 under its previously authorized $4 billion buyback program. This includes the 4.5 million shares purchased last week.
The latest disclosure follows Bitmine’s purchase of nearly 10,000 $ETH, announced on July 28. At the time, the company said roughly 85% of its $ETH holdings were staked through its validator operations.