With its stock trading below net asset value, BitMine has chosen to focus on buybacks instead of further growing its ETH reserve. BitMine Immersion, a Bitcoin mining company and Ether's largest publicly traded holder, has announced the approval of an open-ended $1 billion stock buyback program to repurchase its outstanding shares through open market or negotiated transactions. With shares trading below the company’s net asset value (NAV), BitMine has opted to repurchase its stock rather than allocating more capital to expand its Ether (ETH) reserve, at least for now. The company’s NAV per share is estimated at $22.76, witth crypto holdings of 625,000 ETH and 192 Bitcoin (BTC), according to a press release on Monday. Rather than continue accumulating ETH at elevated prices, BitMine is using the NAV gap as a trigger for buybacks, aiming to increase per-share value and investor exposure to Ethereum reserves. Read more
Surging ETH and BNB activity, alongside shifting USDT flows, are all signals that traders are pivoting into altcoins. Key takeaways: The dominance of Ether’s futures volume surpassed Bitcoin for the first time since 2022. Tron-ecosystem stablecoin activity rose, pointing to capital inflows into the altcoin ecosystem. Read more
ISLAMABAD: The Ministry of Information Technology and Telecommunication (MoITT) on Tuesday hosted a high-level meeting with representatives from the Commonwealth Secretariat and the British Esports Federation to advance the development of Pakistan’s first National Esports Policy and support the creation of a Pakistan Esports Federation. According to a news release, the initiative aims to formally […]
ISLAMABAD: The Election Commission of Pakistan (ECP) on Tuesday announced the schedule for by-elections to fill four vacant seats, including one Senate seat, following the disqualification of three PTI lawmakers and the death of MNA Mian Muhammad Azhar. The disqualified PTI members include Senator Ejaz Chaudhry, Punjab Assembly Opposition Leader Malik Ahmad Bhachar, and MNA […]