The comparison follows weeks of pressure on AI-related stocks amid concerns about spending on data centers and the returns those investments might bring. Lee pointed to crypto’s smaller decline as a sign of strength, though it doesn’t rule out further losses.

Bitmine keeps buying ETH, but slowing

Alongside the share buybacks, Bitmine picked up another 10,452 ETH worth roughly $24.5 million, slowing from 12,535 ETH the previous week.

That brought its holdings to 6,051,933 ETH, or about 4.95% of Ethereum’s 122.2 million token supply. The company is now roughly 58,000 ETH short of its goal of owning 5% of all ether.

The two purchases show how Bitmine is splitting its capital between adding more ETH and buying back its own stock, favoring…