Bitmine Spends More on Buybacks Than ETH as Strategy Skips BTC

Bitmine bought back another large block of its own shares last week while keeping its weekly Ethereum purchases going. The company paid well above its average repurchase price for the year. Share buybacks outspent new ETH purchases during the week, and cash reserves declined. Strategy directed its capital toward preferred stock and added no Bitcoin over the same period. Bitmine Immersion Technologies (NYSE: BMNR), the largest corporate holder of Ether, repurchased 2.04 million of its common shares in the week to October 25 at an average price of $22.48, lifting its 2026 buyback total to $399.6 million across 22.9 million…

Source: Crypto News Flash