Tom Lee's Bitmine slowed ether purchases as it bought back $86 million in stock.

Tom Lee's Bitmine has significantly reduced its weekly Ethereum purchases by 76%. This strategic shift occurred as the company prioritized buying back $86 million in its own stock. This move reflects a broader trend observed in recent weeks, where there is an evident exodus from companies that previously focused on accumulating BTC and ETH. Bitmine's decision to slow down ether acquisitions highlights a change in capital allocation toward corporate share buybacks over cryptocurrency holdings.