BMNR Surges 12% on $1B Buyback and ETH Expansion Ranks 15th in $4.4B Volume Spike

On August 22, 2025, BitMine Immersion (BMNR) surged 12.07% to close at $55.407, with a trading volume of $4.41 billion—a 140.61% increase from the prior day, ranking it 15th in market activity. The move followed a strategic $1 billion stock repurchase program and a $4.96 billion Ethereum portfolio expansion, which signaled management’s confidence in crypto-linked equity positioning.

BMNR’s volatility was driven by its dual exposure to Ethereum’s rebound and aggressive capital allocation. The stock traded between $47.02 and $55.45 intraday, reflecting heightened speculative activity in call options. Technical indicators showed a 65.70 RSI (neutral to overbought) and a 30-day moving average at $44.03, below the current price. Key resistance at $55.45 and support at $45.45 (Bollinger middle band) were identified as critical levels for near-term direction.

Options data revealed aggressive call buying ahead of the August 29 expiration. The BMNR20250829C55 contract, with a strike price of $55 and 138.53% implied volatility, attracted $3.5 million in turnover. A 5% price increase to $58.17 would yield $3.17 per contract, amplified by 12.22% leverage. Similarly, the BMNR20250829C54 option, trading at 145.53% IV, offered a $4.17 payoff potential with 10.57% leverage.

Backtest analysis of BMNR’s performance after a 16% intraday rally showed favorable outcomes. Over 12 historical instances, the stock maintained a 50% 3-day win rate, 58.33% 10-day win rate, and 83.33% 30-day win rate. Average returns were 34.74% (3-day), 18.29% (10-day), and 48.12% (30-day), with a peak return of 54.41% on day 37. This suggests strong momentum retention post-breakout events.

A volume-based trading strategy—buying the top 500 stocks by daily trading volume and holding for one day—generated a cumulative return of 23.4% from 2022 to present, yielding $2,340 in total profit. While modest, the result underscores the potential of liquidity-driven approaches in volatile markets.