BitMine has announced a hard cap of 5% of total Ether supply as its final accumulation target for its crypto treasury. According to Lee, the company acquired most of its ETH during the bear market, protecting itself from downside risks. This cap eliminates the need for additional capital raises to continue purchasing. In June, BitMine launched a $300 million perpetual preferred stock offering, and by early August, the company had repurchased 16.1 million common shares under its $4 billion buyback program.
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