BitMine Immersion Technologies announced today that its board of directors has approved a share repurchase plan that will repurchase up to US$1 billion worth of outstanding common stock of the company. The company has more than $401.4 million in unencumbered cash. As of 10:45 pm EDT on July 28, the company held a total of 625,000 ETH tokens at a price of US$3,755 per ETH, and its Bitcoin holdings were 192 tokens at a price of US$118,021 per BTC. The current number of fully diluted common shares in issue is 121,739,533 shares, and the combined net asset value of cash and cryptocurrency (net asset value per share) is US$22.76.