Bitmine resumes share buybacks, favors stock repurchases over ETH purchases amid crypto decline

Bitmine Immersion Technologies resumed share buybacks after a roughly 10-week pause, purchasing 2.04 million shares for about $45.9 million last week. The company also added 10,452 ETH worth roughly $24.5 million, slowing from the previous week. Chairman Tom Lee argued that cryptocurrencies have weathered the recent market pullback better than AI-related stocks, citing ETH's 13% decline versus a 20% drop in US semiconductors as evidence a crypto bull market is underway.