Bitmine (BMNR), the largest Ethereum treasury company, continued its ether (ETH) purchases last week as Chairman Tom Lee pointed to ether (ETH) outperforming bitcoin as evidence the crypto market is regaining momentum.
The company bought 9,946 ETH, worth about $19.4 million at current prices, up from 7,430 ETH the previous week, according to a Monday update. The purchase lifted Bitmine’s holdings to 5,787,414 ETH ($11.2 billion), or about 4.8% of ether’s circulating supply.
Lee said Bitmine also increased its share repurchases, buying back 6.1 million shares, compared with 5.5 million a week earlier, under its $4 billion buyback authorization.
The latest purchase remains well below the company’s buying pace earlier this…
