Bitmine Immersion Technologies purchased 10,452 ETH, raising its holdings to 6,051,933 ETH, or 4.95% of Ethereum’s total supply. The company is now close to its 5% target, branded the “Alchemy of 5%,” and Tom Lee has said it will stop buying once that threshold is reached. Bitmine also repurchased 2.04 million shares at an average price of $22.48, bringing its 2026 buyback total to 22.9 million shares for approximately $399.6 million. The company says this is the largest share repurchase program ever undertaken by a crypto treasury firm, while Strategy similarly paused Bitcoin purchases to spend $204.9 million buying back its STRC preferred stock.
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