BitMine Immersion Plunges 8.55% on $970M Volume, 112th in Activity as $1B Buyback Plan and ARKs Stake Highlight ETH Treasury Dominance

On August 1, 2025, BitMine Immersion (BMNR) fell 8.55% with a trading volume of $970 million, ranking 112th in market activity. The stock has faced pressure amid a $1 billion share repurchase plan announced by the company, led by chairman Tom Lee, who emphasized potential buybacks if the share price dips below the net asset value of its Ethereum holdings. This follows a strategic shift in institutional investment, with Cathie Wood’s ARK Invest purchasing over $22.8 million in BMNR shares through its ETFs, including 529,366 shares added in a single transaction. The firm also sold stakes in Coinbase and Robinhood to fund the position.

BitMine’s dominance in the Ethereum treasury space remains under scrutiny as competitors like SharpLink accumulate over 438,000 ETH. However, BitMine’s total holdings exceed 625,000 ETH, solidifying its position as the largest public ETH holder. Analysts highlight the firm’s role in reshaping crypto treasury dynamics, with Standard Chartered estimating corporate treasuries could eventually own 10% of ether’s supply. Meanwhile, Wall Street strategist Bernstein noted potential annual yields of up to $50 million for a $1 billion ETH treasury, though risks remain tied to market volatility.

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