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BitMine repurchased 21 million shares worth $350 million between July 14 and August 17, Chairman Tom Lee said on October 7, 2026. Lee called it the largest share buyback in crypto industry history and said the program helped establish a floor for the stock price.
Why it matters
The buyback ran alongside BitMine’s accumulation of nearly 6 million ETH during the bear market. The company is now close to its goal of holding 5% of Ethereum’s total supply.
Market impact
Year to date in 2026, BitMine shares have gained 3%, while ETH has declined 9%. The figures show the company’s stock outperforming ETH over that period, as BitMine combines an Ethereum treasury strategy with share repurchases.
Frequently asked questions
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How many BitMine shares did the company repurchase?
BitMine repurchased 21 million shares worth $350 million between July 14 and August 17.
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How did Tom Lee describe BitMine’s share buyback?
Lee called it the largest share buyback in crypto industry history and said it helped establish a floor for the stock price.
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How much ETH has BitMine accumulated?
BitMine accumulated nearly 6 million ETH during the bear market.
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What is BitMine’s Ethereum treasury goal?
BitMine’s goal is to hold 5% of Ethereum’s total supply. The company is close to that target.
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How have BitMine shares performed compared with ETH in 2026?
Year to date in 2026, BitMine shares have gained 3%, while ETH has declined 9%.
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