Tom Lee's Bitmine Keeps Buying Ethereum But Pivots to Record Share Buybacks

Decrypt10-26 15:36

In brief Bitmine added 10,452 ETH to reach 6,051,933 ETH, extending its weekly buying streak and nearing its 5% “Alchemy of 5%” goal. The week’s bigger move was a share buyback: Bitmine repurchased ...

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Buybacks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-10-26 15:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://decrypt.co//381826/tom-lee-bitmine-keeps-buying-ethereum-share-buybacks><strong>Decrypt</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In brief\nBitmine added 10,452 ETH to reach 6,051,933 ETH, extending its weekly buying streak and nearing its 5% “Alchemy of 5%” goal.\nThe week’s bigger move was a share buyback: Bitmine repurchased ...</p>\n\n<a href=\"https://decrypt.co//381826/tom-lee-bitmine-keeps-buying-ethereum-share-buybacks\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BTRN","symbol_name":"比特币期货ETF-Global 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YieldBOOST Bitcoin ETF"},"translate_title":"Tom Lee 的 Bitmine 继续购买以太币，但转向创纪录的股票回购","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ETHW":0.6,"QETH":0.6,"EETH":0.6,"ETHA":0.6,"IBIT":0.6,"ETHT":0.6,"BETH":0.6,"ETHV":0.6,"BTF":0.6,"BTRN":0.6,"ETHE":0.6,"CBOY":0.6,"EZBC":0.6,"SETH":0.6,"BTCO":0.6,"ARKB":0.6,"BITO":0.6,"EZET":0.6,"XBTY":0.6,"SBIT":0.6,"FETH":0.6,"ETHD":0.6,"BTC":0.6,"ETCO":0.6,"BTCC":0.6,"BTCZ":0.6,"CBXY":0.6,"BTCL":0.6,"CBXA":0.6,"ETHI":0.6,"ETHU":0.6,"BCCC":0.6,"CBTY":0.6,"BITC":0.6,"FBTC":0.6,"ETQ":0.6,"BITX":0.6,"ETH":0.6,"YETH":0.6,"BTCI":0.6,"HODL":0.6,"CBTJ":0.6,"ETU":0.6},"content_text":"In brief\nBitmine added 10,452 ETH to reach 6,051,933 ETH, extending its weekly buying streak and nearing its 5% “Alchemy of 5%” goal.\nThe week’s bigger move was a share buyback: Bitmine repurchased 2.04 million shares, lifting its 2026 total to 22.9 million shares for ~$399.6 million, which chairman Tom Lee called the largest ever by a crypto treasury firm.\nIt mirrors Strategy, which paused Bitcoin buying this week to spend $204.9 million on STRC buybacks—both giants favoring their shares over fresh crypto.\nBitmine Immersion Technologies kept its weekly Ethereum buying streak intact, adding 10,452 ETH worth roughly $24 million, but the bigger move this week was a turn toward buying back its own stock, which the company says is now the largest equity repurchase program any crypto treasury firm has run.The NYSE-listed firm said Monday it repurchased 2.04 million of its own shares over the past week at an average price of $22.48, bringing its 2026 total to 22.9 million shares bought back for about $399.6 million.Myriad: Where does ETH go next? Click to make your prediction.Chairman Tom Lee framed the buybacks as a value play, saying the company intends to repurchase stock “accretively” when management views the shares as undervalued.The ETH purchase lifts Bitmine’s holdings to 6,051,933 ETH, worth roughly $14.3 billion at a reference price of $2,356 per coin. That’s 4.95% of Ethereum’s 122.2 million token supply, leaving the firm, by its own count, 99% of the way to its goal of owning 5% of the network, a target it brands the “Alchemy of 5%.”Lee has said Bitmine is nearly finished stacking and will stop buying once it hits that threshold. (Disclosure: Tom Lee is one of several investors in Dastan, Decrypt’s parent company.)BitcoinBTC · USD$80,736−1.47%24H7D1M1YYTDOct 19Oct 21Oct 23Oct 24Oct 26$84.8k$83.1k$81.3k$79.6k24h HighHigh$80,82524h LowLow$79,332VolVol$1.1B→Buy Bitcoin with USDTPowered by Jupiter$50$100$500BuyPrice data by CoinGeckoCoinGeckoMore Bitcoin news and projections →Lee again cast recent crypto weakness as a buying opportunity rather than a warning sign, arguing the pullback stemmed from the same risk-off forces behind a broader AI selloff. He noted ETH had fallen 13% from its recent peak while U.S. semiconductor stocks dropped 20% over the same stretch, which he said was further evidence “a crypto bull market is underway.”Counting cash, other tokens and what it calls “moonshot” investments, Bitmine’s total holdings stood at $15 billion as of Oct. 25, including 215 Bitcoin, $514 million in cash and marketable securities, a $180 million stake in Beast Industries and a $76 million position in Eightco Holdings.Bitmine remains the world’s largest Ethereum treasury and the second-largest crypto treasury overall, trailing only Michael Saylor’s Strategy.Strategy leaned the same way this week, pausing its Bitcoin buying for the first time since mid-September to spend $204.9 million buying back its STRC preferred stock, underscoring how both treasury giants pivoted toward shoring up their shares over fresh crypto purchases.Bitmine has 5,227,037 ETH, about 86% of its holdings, staked through its MAVAN platform, with projected annualized staking revenue of roughly $318 million.Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more. 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