Overview

• BitMine’s board authorized an open-ended plan to repurchase up to $1 billion of common shares through market and negotiated transactions.
• The firm holds 625,000 ETH valued at about $2.4 billion, bought at an average price of $3,755 per token, toward its goal of staking 5% of total supply.
• Cathie Wood’s ARK Invest acquired roughly $20 million of BMNR shares on July 28–29, deepening its Ether exposure while reducing other crypto positions.
• BMNR shares have swung dramatically in recent weeks, tumbling from a July high of $135 to trade near $32 following buyback and shelf registration news.
• BitMine’s pivot to an Ethereum treasury model underscores a growing trend of corporates diversifying reserves into protocol assets for yield and DeFi opportunities.