Bitmine Increases Ethereum Holdings by Over 7,000 ETH

Treasury firm Bitmine added 7,391 ETH to its portfolio last week. This move continues a consistent trend of weekly purchases for the firm, which now holds nearly 4.8 percent of the total Ethereum supply. The ongoing accumulation suggests a strong confidence in the long term value of the asset.

Alongside the ETH purchases, the company also bought back 3 million shares of its own stock, BMNR. The firm is actively using its capital to reduce the number of shares on the market, even though the current stock price has not reflected these actions lately.

Investors are keeping a close eye on these treasury moves. While the share price has struggled, the focus remains on how much ETH the firm will add in the coming weeks and whether these buybacks will eventually stabilize the stock performance.