Bitmine Immersion Technologies (ticker: BMNR) officially began trading on the New York Stock Exchange (NYSE) on Thursday, completing its move from the NYSE American. Company Chairman Tom Lee stated that the transition to the prestigious exchange marks a major milestone in the company's history.
Alongside the listing, Bitmine’s board of directors unanimously approved an increase in the 2025 share repurchase authorization from $1 billion to $4 billion. According to data from Fundstrat, this program ranks among the top ten corporate buybacks globally for 2026, putting it on par with tech giants like Alphabet, Meta, and Apple.
Continued Expansion of Ethereum Reserves
The buyback program will be executed in the open market through an agreement with Cantor Fitzgerald, in accordance with Rule 10b-18 of the Securities Exchange Act of 1934. Bitmine noted that the $4 billion figure includes shares already repurchased under the previous authorization.
Beyond its capital operations, Bitmine’s recent cryptocurrency holdings have seen significant growth. As of this Monday, the company held a total of 4.803 million ETH, representing 3.98% of the total Ethereum supply. In the week ending April 5, the company added 71,252 ETH, marking its largest weekly accumulation since last December.
As of April 6, the total amount of ETH staked by Bitmine reached 3.334 million, valued at approximately $7.1 billion. Tom Lee stated that the company has consistently increased its Ethereum purchasing over the past four weeks, as he believes Ethereum is currently in the final stages of a "mini crypto winter."
