Tom Lee Claims Slowing ETH Purchase Speed Due to Stock Buybacks

Bitmine Chairman Tom Lee stated that the recent slowdown in ETH purchases by Bitmine is due to large-scale stock buybacks. Since the launch of the ETH Treasury Strategy on June 30, 2025, Bitmine has maintained a weekly buying pace of ETH. In the past week, Bitmine repurchased approximately 5.5 million shares of common stock at an average buyback price of $15.6156 per share, aiming to enhance shareholder value. Bitmine's self-staking business has yielded a return of 2.67% (annualized) over the past seven days and will continue to expand its ETH reserves and staking returns, reinforcing its digital asset treasury strategy. Currently, Bitmine holds about 5.78 million ETH, of which approximately 4.9 million ETH has been staked, accounting for 85% of its total holdings, with an expected annualized income from Ethereum staking of around $247 million.

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