Bitmine nears control of 5% of Ether while shifting capital toward share buybacks

Bitmine Immersion Technologies disclosed holdings of 5,777,468 ETH, approximately 4.8% of Ether’s reported supply, after adding 7,430 ETH during the week. It also repurchased 5.5 million shares at an average $15.6156 under a $4 billion authorization. Approximately 4.92 million ETH is staked, and the company projects about $247 million in annualized staking revenue at the current deployment level.