BitMine signals slower Ethereum buying after nearing 5% supply target, shifting focus to buybacks and staking yield.

BitMine Immersion Technologies is slowing its Ethereum accumulation after nearing its self-imposed 5% supply target, holding over 5 million ETH or about 4.29% of total supply. The company is shifting focus toward a $4 billion share buyback program and staking yield, with about 85% of its ETH holdings staked to generate on-chain returns. Despite strong revenue growth, BitMine remains unprofitable with a net loss of $3.82 billion. The move reflects a strategic pivot from aggressive ETH buying to capital returns and yield generation amid volatile stock performance and broader crypto market trends.