Bitmine (BMNR) Stock Falls 7% as Company Restarts Buybacks

TLDR BMNR stock closed down 6.5% at $20.95 on Monday after Bitmine resumed buybacks following a roughly 10-week pause. The company bought 2.04 million shares for about $45.9 million last week at an average of $22.48. Bitmine also added 10,452 ETH, bringing holdings to 6,051,933 ETH, or 4.95% of supply. Chairman Tom Lee said ETH is down 13% from its peak while the SOXX semiconductor ETF is down 20%. Bitmine has bought back 22.9 million shares in 2026 for $399.6 million. BMNR stock closed down 6.5% at $20.95 on Monday.