Summary
- Tom Lee said he spent about $86 million to buy 5.5 million shares of the company’s common stock at an average price of $15.62 each.
- He said the large share buyback somewhat slowed the pace of Ethereum (ETH) purchases.
- BitMine added 7,430 ETH (about $14 million) last week, one of its smallest weekly purchases since launching its ETH treasury strategy.
Forecast Trend Report by Period
BitMine Immersion Technologies Inc. Chairman Tom Lee said he spent about $86 million to buy 5.5 million shares of the company’s common stock at an average price of $15.62 each.
Decrypt reported on July 20 that the large share buyback had somewhat slowed the pace of the company’s Ethereum purchases, Lee said.
BitMine bought an additional 7,430 ETH last week, worth about $14 million. It was one of the company’s smallest weekly Ethereum purchases since it began its ETH treasury strategy.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.