Tom Lee’s Bitmine Keeps Buying Ethereum But Pivots to Record Share Buybacks
Summary
Tom Lee's firm expanded its digital asset holdings by acquiring more Ethereum, bringing its total ownership to nearly five percent of the circulating supply. At the same time, the company executed a massive repurchase of its own shares, marking what it describes as the largest equity buyback ever conducted by a cryptocurrency treasury business.
The firm added 10,452 ETH to reach 4.95% of supply, but its bigger move was repurchasing 2.04 million of its own shares—part of what it calls the largest equity buyback any crypto treasury company has run.
Source: Read the full story at Decrypt
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