BitMine just grabbed 15,112 ETH last week ending October 4, bumping their whole treasury up to 6,016,414 tokens 🖤 tho that move felt smaller than the 17,362 they scored the week before fr.
Buyback Vibes Still Matching August Energy ✨
It ended up being their tiniest weekly purchase since August 16 when they added 9,926 ETH according to those SEC filings 💀 Their current stash now hits 4.9% of the total 122.1 million ETH supply but they still want that 5% goal so bad. They valued everything at $2,726 per token using Coinbase prices and now the ETH plus other crypto cash and equity stakes add up to $17.4 billion total 🌙 That pile includes 214 BTC a $180 million stake in Beast Industries and $117 million in Eightco Holdings (ORBS). Cash and marketable securities sit at $643 million rn down from $672 million a week ago and $714 million back on September 20.
“We believe that as crypto enters a cycle we view as a bull market what is notable is Bitmine’s share price outperformance of ETH during the bear market of 2025-2026” said BitMine Chairman Tom Lee 👀
Lee pointed out the company shares only dropped 3% in the first nine months while ETH fell 10% and he credits part of that edge to their share buyback 🔥 They picked up 21 million of their own shares this year which he called the biggest equity buyback any crypto treasury has pulled off.
Fresh Staking Setup Locks In That 1.5% Fee 💎
Ethereum Towers had been running BitMine staking since March for a cut of net revenue but they wrapped that deal on September 3 with zero big early termination fees lmao. Since September 4 the affiliate American Validator now advises MAVAN the staking platform BitMine launched in March valued and they earn just 1.5% of rewards on all that ETH. BitMine has 5,067,309 ETH staked right now which is 84% of their Ether and that number has stayed frozen across nine weekly updates starting August 9 🦇
Just another echo from the void by iconofsin.eth 💖
