Tom Lee’s Bitmine slowed ether purchases as it bought back $86 million in stock.
The company added just 7,430 ETH, worth about $14 million, last week as it nears its goal to corner 5% of Ethereum’s supply.
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Summary
- Bitmine sharply slowed its Ethereum purchases last week, adding 7,430 ether worth about $14 million as it shifted capital to a share buyback program.
- The firm now holds about 5.78 million ETH, or roughly 4.8% of Ethereum’s circulating supply, and is nearing its goal of controlling 5% of the token’s supply.
- Bitmine repurchased approximately 5.5 million shares at an average price of $15.62 and continues to generate projected annualized staking revenue of about $247 million from 4.92 million staked ETH.
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CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
