BMNR Stock Jumps After Tom Lee-Led BitMine Slows ETH Buying To Fund 5.5M Stock Buyback

BMNR stock rose after BitMine announced it is slowing Ethereum purchases.

The capital reallocation funds a $5.5 million stock buyback program.

Chairman Tom Lee said the reduced buying supports the share repurchase.

The buyback is part of a larger $4 billion program.

Investors reacted positively to the capital allocation shift.