Bitmine Restarts Buybacks, Spends $45.9M on 2.04M Shares as ETH Buying Slows
BMNR sits 60% above its 52-week low of $12.8 on light trading volume (0.2× avg).
Summary
Bitmine restarted share repurchases at the end of October after a 10-week pause, buying 2.04 million shares last week at an average of $22.48 for about $45.9 million — its first buyback since Aug. 17. Total 2026 repurchases now stand at 22.9 million shares worth nearly $400 million, funded under the $4 billion authorization disclosed in April. The shift matters because the company is at more than 4.9% of ETH supply and said in October it would stop buying Ethereum at its 5% cap; weekly ETH purchases already slowed to 10,452 tokens ($24.5 million) from 12,535 the prior week. With the ETH accumulation engine winding down, buybacks become the main outlet for cash — and management frames them as value-driven, with the stock down 48% over 12 months. Watch the 5% ETH threshold: once crossed, the pace of repurchases versus staking yield becomes the core capital-allocation story.
At the time of this announcement, BMNR was trading at $20.46 on NYSE in the Crypto Assets sector, with a market capitalization of approximately $12.3B. The 52-week trading range was $12.80 to $43.77. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: CryptoProwl.