Tom Lee's Bitmine bought more ether, added to stock buyback last week

FinanceTom Lee's Bitmine bought more ether, added to stock buyback last weekChairman Tom Lee said ether's outperformance versus the Nasdaq in July signals strengthening crypto fundamentals.By Krisztian Sandor|Edited by Stephen Alpher Aug 3, 2026, 12:53 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowBitmine purchased 10,399 ETH last week, worth about $19.1 million at current prices.Chairman Tom Lee said ether's July outperformance versus the Nasdaq was its strongest in a year and signals improving fundamentals.Bitmine also bought back 4.5 million shares of stock last week, bringing total recent repurchases to 16 million shares.Bitmine Immersion (BMNR), the largest Ethereum treasury company, bought 10,399 ether (ETH) during last week as Chairman Tom Lee pointed to ether's strongest monthly performance against the Nasdaq in a year as evidence that crypto is recovering.The purchase, worth roughly $19.1 million at ETH’s current price of $1,840, lifted Bitmine's holdings to almost 5.8 million ETH, or about 4.8% of Ethereum's circulating supply, according to the company's Monday update.The latest acquisition was broadly in line with the previous week's 9,946 ETH purchase, extending Bitmine's streak of weekly ether buys since adopting its Ethereum treasury strategy in June 2025.The company also bought back 4.5 million shares of its common stock, bringing total recent repurchases to 16 million shares.The update comes as Strategy (MSTR), the largest corporate bitcoin holder, disclosed another sale of bitcoin. The company trimmed its treasury by 1,638 BTC, worth about $105 million, while repurchasing $81.2 million of its STRC preferred stock. Strategy also raised $290 million through sales of common shares.Lee tied the company's outlook to ether's relative strength against technology stocks."In July, ETH outperformed the Nasdaq 100 by 2,500 basis points," Lee said in the statement. "This is…

Tom Lee's Bitmine bought more ether, added to stock buyback last week

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