BitMine (BMNR) Approves $1 Billion Stock Buyback Program

Bitmine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) is one of the 12 Best Performing Stocks in the Last 6 Months. On July 29, Bitmine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) reported that its Board of Directors has authorized a new stock repurchase program to buy back up to $1 billion of the company’s outstanding common stock.

As of the time of this announcement, the company holds a total of $2.77 billion in crypto and unencumbered cash.

This stock repurchase program is open-ended, allowing Bitmine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) to buy back shares from time to time in the open market and in negotiated transactions.

Bitmine Immersion Technologies, Inc. (NYSEAMERICAN:BMNR) is an American Bitcoin and Ethereum Network company. It focuses on accumulating cryptocurrency for long-term holding.

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Disclosure: None. This article is originally published at Insider Monkey.