- Ethereum price outlook: BitMine slows its Ethereum accumulation pace in favor of share buybacks:

Ethereum price today: $1,900
BitMine lowered its weekly Ethereum accumulation rate to 7,430 ETH after spending $85 million to repurchase 5.5 million shares of BMNR stock.
Ethereum ETF funds recorded $105.4 million in net inflows last week, marking the second consecutive week of positive flows.
Ethereum is retesting the resistance level at $1,900 before hitting a stronger upside target at the 100-day exponential moving average.

Ethereum (ETH) is hovering near $1,900 after a pullback in accumulation by BitMine Immersion Technologies (BMNR) in favor of $85 million share buybacks and continued recovery in its Ethereum exchange-traded funds (ETFs).

BitMine slows its Ethereum buying pace

BitMine, a firm specializing in Ethereum treasury management, acquired 7,430 Ethereum last week, marking its lowest weekly acquisition level since it shifted to a crypto treasury model.

The latest purchase raised BitMine’s holdings of the leading altcoin to 5.777 million Ethereum worth $10.86 billion at the time of publication. According to BitMine, this represents 4.8% of Ethereum’s total circulating supply, putting it just 0.2% short of its initial target of acquiring 5% of the leading altcoin’s supply.

The reduced buying pressure aligns with the company’s prior statement that it would slow its Ethereum accumulation as it approaches the 5% mark.

Instead, the company redirected capital toward share buybacks. Last week, the Las Vegas-based company spent roughly $85.88 million to repurchase about 5.5 million shares of its common stock, at an average price of $15.61 per share. The company said it executed this buyback under its previously approved $4 billion share repurchase program.

“We believe that buying our common shares increases shareholder value,” BitMine’s board chair Thomas Lee said in a statement issued Monday.

BitMine reiterated that it has stashed 4.917 million Ethereum (about 85% of its holdings) through its “institutional-grade” storage platform, U.S. verification network MAVAN. These tokens are expected to generate $247 million in annual storage revenues.

The company also reported holdings of 207 Bitcoin (BTC), a $180 million stake in Beast Industries, a $58 million stake in Worldcoin (WLD) treasury, and stakes in Eitco Holdings (ORBS), plus total cash and marketable securities of $385 million.

Ethereum ETFs continue to recover, but inflows remain weak.

Meanwhile, U.S. crypto (Ethereum) index funds (ETFs) continued to rebound, with net inflows of $105.4 million last week, according to SoSoValue data. This marks the second consecutive week of positive flows after eight straight weeks of outflows.

iShares Ethereum Trust (ETHA) dominates most of the recent flows, attracting $135.31 million last week. Most other funds saw no activity, while some recorded net outflows.

Even so, the money position still remains largely in the negative zone, as recent inflows remain low compared with the heavy outflows over the past six months.
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