PANews
PANews|Jul 20, 2026 16:16
[Tom Lee Responds to Slower ETH Purchase Pace: Due to Large-Scale Stock Buybacks] According to PRNewswire, Bitmine Chairman Tom Lee stated that the recent slowdown in ETH purchase pace is due to concurrent large-scale stock buybacks. However, since the launch of the ETH Treasury Strategy on June 30, 2025, Bitmine has maintained a weekly ETH purchasing rhythm. Over the past week, Bitmine repurchased approximately 5.5 million shares of common stock at an average buyback price of $15.6156 per share. This stock buyback is expected to enhance shareholder value. Additionally, Bitmine's proprietary staking operations generated a 7-day yield of 2.67% (annualized) and will continue to strengthen its digital asset treasury strategy by expanding its ETH reserves and staking returns.
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