Bitmine Reaches 4.8% of Total ETH Supply with $11.5 Billion Holdings

Bitmine Immersion Technologies (BMNR) announced its Ethereum holdings have reached 5.78 million tokens, representing 4.8% of the total ETH supply of 120.7 million.

The company's crypto and cash holdings now total $11.5 billion, with a significant portion invested in staking operations through MAVAN (Made-in America VAlidator Network).

Bitmine repurchased 5.5 million common stock shares at an average price of $15.6156 under its $4 billion share repurchase program.

The company's Chairman, Thomas 'Tom' Lee, stated that the purchase of common shares is accretive to shareholder value.