TLDR
- BMNR stock is up 4% today, trading at $18, after Bitmine repurchased 1.7 million shares last week
- Total share repurchases since July 2026 now exceed 20.8 million under a $4 billion buyback program
- Bitmine holds 5.82 million ETH, equal to 4.8% of total Ethereum supply, valued at $1,893 per token
- Total company assets stand at $11.4 billion, including 5.06 million staked ETH worth $9.6 billion
- Annualized staking revenues are projected at $250 million, with a 7-day yield of 2.61%
Bitmine Immersion Technologies (BMNR) stock is up 4% on August 17, trading at $18, after the company announced it repurchased 1.7 million shares in the week of August 10 to 14.
Bitmine Immersion Technologies, Inc., BMNR
That buyback brings total repurchases to over 20.8 million shares since July 1, 2026, under the company’s $4 billion share repurchase program.
Bitmine also added 9,926 ETH last week, pushing its total Ethereum holdings to 5.82 million tokens. At $1,893 per ETH based on Coinbase pricing, that represents a 4.8% slice of the total Ethereum supply of 120.7 million coins.
The company’s total assets as of August 16 came in at $11.4 billion. That includes 210 Bitcoin, a $180 million stake in Beast Industries, a $73 million stake in Eightco Holdings, and $78 million in cash and marketable securities.
Staking at Scale
Of the 5.82 million ETH held by Bitmine, 5.06 million are staked through the company’s MAVAN platform, short for Made in America Validator Network. That staked ETH is valued at $9.6 billion.
Tom Lee, Chairman of Bitmine, said annualized staking revenues are now projected at $250 million. The 7-day staking yield came in at 2.61% annualized.
Bitmine says it plans to expand MAVAN to serve institutional investors and custodians.
The company was added to the Russell 1000 Large-cap index on June 26, 2026. Its institutional backers include ARK’s Cathie Wood, Pantera, Kraken, Founders Fund, DCG, and Galaxy Digital.
BMNR is up roughly 50% from its June 30 low of $12. The RSI sits at 59, and is making higher highs, which suggests buying pressure is building.
Key Price Levels to Watch
The stock is testing resistance at $18.80, the midline of an ascending parallel channel. A close above that level could open the door to the $20 psychological level.
If BMNR closes below $18.80 and slips under the lower trendline of the channel, support sits at the lower Bollinger band of $16.27.
The broader market provided a tailwind on Sunday, with the Nasdaq 100 up 0.17% on optimism that the Fed will hold rates steady in September. Goldman Sachs has warned investors against betting on a rate hike after CPI data showed cooling inflation.
Weak US jobless claims data also added to the macro backdrop, with some investors expecting the Fed to cut rates before year end.
Bitmine’s Series A Preferred Stock trades on the NYSE under the ticker BMNP, which was up 0.84% on the day.
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
