BitMine Immersion Technologies ($BMNR) launched a $1 billion stock buyback program as its Ethereum holdings surpassed 625,000 ETH, worth $2.3 billion, making it the largest corporate ETH holder. The open-ended buyback, announced July 29, supports BitMine’s goal to acquire 5% of Ethereum’s supply, with its shares soaring over 3,000% since early July. Competitors like SharpLink trail with 438,017 ETH, while institutional and ETF holdings, totaling 6.73% of ETH’s supply, reflect growing demand and bullish supply dynamics.
