Bitmine's Mystery Money: Buying Back Shares AND Stacking ETH?

Description

Bitmine Is Buying Back Shares... With Money From Where?⁣ ⁣ Bitmine is buying back 5,500,000 BMNR shares at a $15.62 average, all while still stacking ETH toward that 5% supply target.⁣ ⁣ “I don’t know where the fuck they get their money from but they’re still buying ETH, they’re buying back BMNR shares.”⁣ ⁣ They’re at 4.8% of total ETH supply now, taking a slow march to 5% that could stretch six to twelve months.⁣ ⁣ “We do not ATM at below NAV.”⁣ ⁣ Instead of piling more ETH onto the balance sheet, they’re treating shareholders to more ETH per share by shrinking the share count.⁣ ⁣ “Tom Lee maybe could explain that.” 🎬⁣ ⁣ #Bitmine #BMNR #Ethereum #ETH #Crypto #TomLee #CryptoNews #Bankless