BitMine Immersion Technologies · Ethereum · Crypto Briefing
BitMine completes $350 million stock buyback, which Tom Lee calls the largest in crypto
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The Ethereum treasury firm repurchased 21 million shares while continuing to stack ETH, a two-track strategy management says is about undervaluation.
Key facts
- Depending on yield levels, BitMine projects annualized revenue of between $250 million and $363 million from this activity
- BitMine Immersion Technologies spent about $350 million buying itself back
- The repurchases ran from mid-July through August 17, 2026, when the program wrapped up
- The Ethereum treasury firm repurchased 21 million shares while continuing to stack ETH, a two-track strategy management says is about undervaluation
Summary
Executive Chairman Tom Lee says the company repurchased 21 million shares of its own stock. The repurchases ran from mid-July through August 17, 2026, when the program wrapped up. For a company whose fortunes are tied to Ethereum, that gap is the point. Join 34,000+ readers across crypto, finance, and policy.