Ethereum-focused treasury firm BitMine Immersion, led by Chairman Thomas “Tom” Lee, has unveiled a $1 billion stock repurchase program aimed at strengthening shareholder value and reinforcing its long-term strategy around digital assets.
Approved by the board on July 29, the initiative will allow the Las Vegas-based company to buy back its common stock through open-market transactions and negotiated deals, depending on market conditions.
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Bitmine is today announcing a $1 billion stock repurchase program.Per Tom Lee @fundstrat, Chairman of Bitmine:
“In our road to achieving ‘the alchemy of 5%’ of ETH, there may be times when the best expected return of our capital is to acquire our own shares”ticker:…
— Bitmine BMNR (@BitMNR) July 29, 2025
Despite the announcement, BMNR shares fell 8.86% in the 24 hours following the news, closing at $32 on July 30. This marks a sharp reversal from last month’s surge, when the stock climbed nearly 700% to $135—driven largely by the company’s aggressive pivot toward Ethereum-based treasury management.
Lee dismissed concerns over investor dissatisfaction, attributing the price drop to the registration of new shares rather than negative sentiment about the buyback plan. “I think the decline in the shares just coincides with the share registration — those shares are now registered and available for trading today,” Lee said in an interview with Bloomberg. He emphasized that the buyback reflects a disciplined approach to capital allocation, noting that, at times, repurchasing shares may offer better returns than accumulating additional Ethereum.
As of July 30, BitMine holds approximately 625,000 ETH in its reserves, valued at around $2.35 billion. This underscores the firm’s continued commitment to Ethereum as the cornerstone of its corporate treasury strategy.
Lee reaffirmed the company’s vision of “achieving the alchemy of 5%” of the total ETH supply, positioning BitMine as a pioneer in institutional Ethereum adoption. With a dual strategy of share buybacks and large-scale ETH accumulation, BitMine continues to push the boundaries of corporate treasury management in the crypto era.
In a separate development, BitMine has reclaimed its position as the world’s largest corporate Ether holder after an aggressive two-week accumulation spree. The company purchased 566,776 ETH worth more than $2.03 billion over the past 16 days, further solidifying its dominance in the emerging Ether treasury sector.
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