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BTC 
ETH Bitmine Immersion Technologies (BMNR) shares rose 4% to US$18 per share on August 17 after the company disclosed that it bought back 1.7 million shares between August 10 and 14.
Bitmine Immersion Technologies, Inc., BMNR
's latest repurchase activity brings the cumulative number of share repurchases since early July 2026 to more than 20.8 million shares, which is part of the company's $4 billion share repurchase plan.
In addition to repurchase, Bitmine also purchased 9,926 Ethereum tokens in the same week, bringing its total Ethereum position to 5.82 million. Based on Coinbase's pricing of $1893 per piece, this position accounts for approximately 4.8% of Ethereum's total supply of 120.7 million pieces.
As of August 16, the company reported total consolidated assets of US$11.4 billion. This figure includes 210 bitcoins, a $180 million equity investment in Beast Industries, a $73 million stake in Eightco Holdings, and $78 million in liquid assets and marketable securities.
Revenue from large-scale pledge business
Of Bitmine's 5.82 million Ethereum reserves, approximately 5.06 million are actively pledged through its proprietary MAVAN infrastructure, the U.S. Made Verifier Network. The pledge portion is currently valued at US$9.6 billion.
According to Bitmine Chairman Tom Lee, the company expects annualized pledge revenue of approximately US$250 million. The pledge return rate in the last 7 days is 2.61% on an annualized basis.
Bitmine has formulated plans to expand MAVAN's coverage to accommodate institutional capital and custody services.
The company was included in the Russell 1000 Large-Cap Index on June 26, 2026. Notable institutional shareholders include Kathy Wood's Ark Investment Management, Pantera Capital, Kraken, Founders Fund, Digital Currency Group and Galaxy Digital.
BMNR shares have rebounded about 50% from their June 30 low of $12. The Relative Strength Index is currently at 59 and continues to hit higher peaks, indicating that bullish momentum is growing.
Key technical levels for traders
The stock is currently challenging the $18.80 resistance level, which corresponds to a mid-track that slopes upward in parallel channels. If this resistance continues to be exceeded, it may pave the way for a further rise to the psychological level of $20.
If BMNR fails to hold above US$18.80 and falls below the bottom of the channel, technical support will be near the bottom of the Bollinger Band, about US$16.27.
Overall market sentiment provided favorable conditions on Sunday, with the Nasdaq 100 index rising 0.17% on widespread expectations that the Federal Reserve will leave current interest rates unchanged in September. Goldman Sachs warned market participants not to expect interest rate hikes as recent consumer price index data showed inflation was slowing.
Disappointing jobless claims data further affected the macro environment, with some market observers predicting that the Federal Reserve may cut interest rates before the end of the year.
Bitmine's Series A preferred stock, listed on the New York Stock Exchange under the ticker symbol BMNP, rose 0.84% during the same trading session.
