Bitmine Immersion, Bitcoin mining company and Ether’s largest stock owner, announced the approval of the $ 1 billion redemption program in order to buy overdue shares through open transactions or negotiated transactions.
Bitmine has decided to make the shares lower than the value of net assets (NAV) decided to buy its shares, and not allocate more capital to extend the Ether reserve (ETH), at least for now.
NAV per save the company is estimated at USD 22.76, Witth Crypto Holdings in the amount of 625,000 ETH and 192 Bitcoin (BTC), According to to a press release on Monday. Instead of continuing to accumulate ETH at increased prices, Bitmine uses GAP NAV as a redemption trigger, aimed at increasing the value to SHAR and exposure of investors to Ethereum reserves.
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“On our way to reach” alchemy in the amount of 5%”ETH may be the times at which the best expected return of our capital is the acquisition of our shares,” said Tom Lee, chairman of Bitmine from July 8.
Bitmine has USD 401.4 million in unloaded cash, which can directly finance a significant part of the redemption.
Related: Twenty One Capital’s Bitcoin Stash is greater than initially expected
Treasury strategy ETH: “Alchemy 5%”
After the announcement of his goal on June 30, 2025, the acquisition and share of up to 5% of the total supply of Ethereum, Bitmine appointed Tom Lee as chairman, who since then outlined the company’s long -term strategy of the company through a monthly “message of the chairman” entitled Alchemia of 5%.
In the latest updateLee called the ether “the most important macro trade for the next decade” and described Stablecouins as “Chatgpt moment for cryptography.” Since about half of all Stablecoin is issued on Ethereum, Lee believes that the main party Stablecouins will enhance valuable recognition for ETH.
The company effectively betting that Ethereum will become fundamental to the future of finances, and having a significant participation in native tokens will ensure long -term value.
In addition to ETH resources, Bitmine still generates operating income by extracting bitcoins, using immersion cooling technology to improve performance.
Related: Analysts say Ethereum “ready to explode” when the price of ETH recovers 3.8 thousand.
Sharplink acquires more ether
While Bitmine currently has the title of the largest public owner of Ether, he is not without competition. Sharplink Gaming Inc., a digital entertainment company, announced today that it has purchased an additional 77 209.58 ETH, bringing a total possession of 438 190 ETH, or about $ 1.6 billion.
On Monday, the chairman of Sharplink, Joe Lubin, told Bloomberg that the company “would be able to accumulate more ether for a fully divorced participation-significantly faster than any other project based on Ethereum.” He added, however, that the company’s approach to buy more ETH is cautious. “No matter what we do, we will continue the lever,” said Lubin.
The message appears because the standard bank report reveals that public companies are buying 1% of the entire ETH in circulation since June. The author of the report, Geoffrey Kendrick, said: “ETH companies are just starting; they will probably be 10 times from here.”
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