Bitmine Slows Ether Buying After Major Stock Buyback

Bitmine added 7,430 ETH to its holdings over the past week. This purchase is valued at roughly $14 million. The company is currently working toward a long term goal of controlling 5 percent of the total Ethereum supply.

The recent slowdown in buying comes as the firm completed an $86 million stock buyback program. By returning capital to shareholders, the company has temporarily adjusted its strategy regarding digital asset acquisitions.

Market observers are watching to see if the firm returns to its previous pace of accumulation now that the buyback is settled. For now, the company remains a major player in the Ethereum market despite the brief change in strategy.