NEW YORK, Jan 20, 2026, 15:20 EST — Regular session
Shares of BitMine Immersion Technologies slipped roughly 8.3% to $28.57 in afternoon trading Tuesday, extending losses after the company released new details on its crypto assets. The stock fluctuated between $28.30 and $29.36, with more than 36 million shares exchanging hands.
The swing matters because BitMine’s stock has been moving more like a stand-in for ether’s price and management’s capacity to fund additional token purchases. It also recently secured shareholder approval to raise the amount of stock it can issue — a move that paves the way for future fundraising and potential dilution, even if no new shares hit the market right away.
Crypto prices slipped Tuesday. Ether lost around 6.8%, while bitcoin dropped close to 3.7%, dragging down crypto-related stocks like Strategy, Coinbase, and Marathon Digital.
BitMine reported in a company statement that its combined crypto, cash, and “moonshots” holdings reached $14.5 billion as of Monday evening. This included 4,203,036 ether, priced at $3,211 each, 193 bitcoin, a $22 million stake in Eightco Holdings, and $979 million in cash. Chairman Tom Lee revealed the company purchased 35,268 ether over the past week and highlighted the ETH/BTC ratio—ether’s price against bitcoin—as a sign of rising demand for Ethereum-related use cases. 1
A regulatory filing revealed shareholders greenlit a charter amendment to boost authorized common shares from 500 million to 50 billion. The vote tally stood at 222.2 million in favor, 49.4 million opposed. Other agenda items included director elections and an incentive plan approval.
Authorized shares cap the total stock a company can legally issue. Raising that limit offers management more room to tap capital fast, but it might unsettle shareholders who worry the company could dump shares during rallies.
BitMine reported holding 1,838,003 staked ether as of Jan. 19—tokens locked to support network validation in exchange for fees. Its MAVAN staking platform is still set for a first-quarter 2026 launch. The company anticipates closing its $200 million investment in Beast Industries this week, though this stake hasn’t yet been included in its “moonshots.”
The trade can shift quickly. A deeper drop in crypto prices would reduce the mark-to-market value of BitMine’s holdings. Plus, a large share issuance might dilute current investors, even if it raises cash for more token buys.
Traders are now focused on a few clear milestones: a follow-up filing outlining plans for the increased share authorization, confirmation that the Beast Industries deal wraps up this week, and updates on the MAVAN rollout as the quarter moves forward.
