Ethereum Holdings Leader BMNR Announces Up to $1 Billion Stock Buyback

BlockBeats News, July 29th, according to a report by MarketWatch, Bitmine Immersion (BMNR), the top Ethereum whale among publicly traded companies, announced a buyback of up to $1 billion of its company stock. The buyback plan is open-ended, allowing the company to repurchase shares on the market and through negotiated trades.

As a result of this announcement, according to RockFlow market data, Bitmine Immersion Tech (BMNR) saw a pre-market drop of over 14%, which has now narrowed to 5%, with the stock price currently at $33.3. BMNR currently holds 566,800 ETH, worth approximately $2.2 billion.