BitMine Immersion Technologies, an Ethereum treasury firm led by Tom Lee, has approved a stock repurchase program valued at up to $1 billion. The company holds approximately 625,000 Ethereum tokens, valued at around $2.35 billion, along with $401 million in cash. Chairman Tom Lee indicated that the repurchase program, which is open-ended, is driven by the company’s strategy centered on Ethereum and aims to deliver the best expected return on capital. This move underscores BitMine's commitment to its Ethereum treasury pivot and reflects confidence in its asset base and future growth prospects.