BitMine has authorized a $1 billion open-ended stock repurchase program to advance its strategic initiative of securing 5% of Ethereum’s total circulating supply. This positions BitMine as the largest corporate holder of ETH globally, with current holdings totaling approximately 625,000 Ethereum tokens valued at $2.4 billion based on prevailing market prices.
The repurchase plan provides ongoing flexibility for capital allocation through periodic buybacks. BitMine’s ETH reserves were acquired at an average price of $3,755 per token, according to company disclosures. Ethereum’s market capitalization reached approximately $458.9 billion accompanying this announcement, reflecting a 55% monthly price surge for the cryptocurrency.
Other publicly traded companies including SharpLink and BitDigital have similarly integrated ETH holdings into their corporate treasuries. BitMine maintains its acquired ETH tokens will be held long-term and staked as part of its operational strategy.