Bitmine Slows Ether Accumulation After $86M Stock Buyback

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Bitmine, the crypto investment firm associated with Tom Lee, significantly slowed its Ethereum purchases last week, adding only 7,430 ETH valued at approximately $14 million. The reduced buying came as the company simultaneously executed an $86 million stock buyback program. Bitmine has been on an aggressive campaign to acquire Ethereum, with an stated goal of controlling 5% of the total ETH supply. The latest modest purchase suggests the company is balancing capital allocation between its crypto holdings and returning value to shareholders.

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