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Crypto Potato 2026-08-17 14:00:59

BitMine Cuts Weekly Buyback to 1.7M Shares as ETH Treasury Hits 5.82 Million

BitMine Immersion Technologies (BMNR) has repurchased 1.7 million common shares in the week ending August 16. This is the smallest weekly buyback since the program began on July 1 and the third consecutive weekly decline, while the company’s Ethereum (ETH) treasury grew to 5,815,164 tokens. Total crypto, cash, and “moonshot” holdings came to $11.4 billion, down from $11.6 billion a week earlier, even though BitMine added 9,926 ETH over the period. The company marked its ETH at $1,893 per token on August 16, against $1,928 a week before. As reported , BitMine purchased a 7,391 ETH batch that took the treasury past 5.8 million tokens last week. “We are encouraged to see the ETH/BTC ratio at 0.02994 and rising,” stated Thomas “Tom” Lee, Chairman of BitMine, who linked the move to tokenization and agentic-AI applications. Buyback Slows for Third Week BitMine’s holdings equal 4.8% of the 120.7 million ETH supply, leaving it 96% of the way to its stated target of owning 5%. Lee said the company has bought ETH every week since the treasury strategy began on June 30, 2025. BitMine has repurchased 20.8 million common shares since July 1 under a $4 billion authorization. Weekly totals disclosed in its filings peaked at 6.1 million shares in the week to July 26, then fell to 4.5 million, 3 million, and 1.7 million. Lee has called the stock undervalued or attractively valued in each of those three releases, and described the program as the largest ever executed by any crypto digital asset treasury. Back in July, BitMine cut its weekly ETH buying to 7,430 tokens from more than 30,500, a slowdown Lee attributed at the time to capital redirected toward repurchasing shares. Cash Falls to $78 Million Total cash and marketable securities stood at $78 million on August 16, a line that has declined in every weekly disclosure since June 28, when BitMine reported $527 million, passing through $482 million, $385 million, $268 million, $173 million, and $104 million. Alongside the ETH, the company reported 210 Bitcoin (BTC), a $180 million stake in Beast Industries, and a $73 million stake in Eightco Holdings (ORBS). BitMine’s board declared seventeen weekly cash dividends on its 9.50% Series A Perpetual Preferred Stock on August 14, most at $0.1847 per share, payable from September 4 through December 28. That security trades on the NYSE as BMNP against a $100 stated value. The post BitMine Cuts Weekly Buyback to 1.7M Shares as ETH Treasury Hits 5.82 Million appeared first on CryptoPotato .

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