INTEL: Bitmine adds 10,452 ETH and buys back 2.04M shares as Tom Lee calls a bull market

Crypto treasury company Bitmine added 10,452 ETH to its holdings and repurchased 2.04 million of its own shares, while Tom Lee insisted that a crypto bull market is underway.

The purchase brings Bitmine’s Ether holdings to 4.95% of the total ETH supply. The company said its combined crypto, cash, marketable securities and other investments totaled $15 billion as of Oct. 25. That figure covers the whole portfolio, not Ether alone.

Record buyback for a crypto treasury firm

The share repurchase was the larger shift in the update. Bitmine bought back 2.04 million shares and describes the program as the largest equity buyback any crypto treasury company has run. That characterization comes from the company itself.

The sources supplied do not give the price paid for the shares, the cost of the ETH purchase or the size of the buyback program. They also do not give the full text of Lee’s remarks beyond his statement that the bull market is underway.

The story is still developing.