Bitmine Immersion Technologies has officially uplisted from the NYSE American to the New York Stock Exchange main board while increasing its share repurchase authorization from $1 billion to $4 billion. The move aims to accelerate the company's Ethereum accumulation strategy and enhance shareholder returns.
Shares of the crypto-focused company began trading on the NYSE under the ticker BMNR on Thursday, April 9, 2026. The stock last traded on the NYSE American on April 8. Uplisting is typically seen as a milestone for companies seeking broader institutional attention and liquidity. Chairman Tom Lee described the moment as 'a defining milestone for the company.'
Massive Ethereum Treasury
Bitmine's core strategy is to build one of the largest corporate digital asset reserves globally, with a particular focus on Ethereum. As of April 6, the company held approximately 4.803 million ETH, representing about 3.98% of the total circulating supply. This stake has already surpassed three-quarters of its stated target of accumulating 5% of all ETH, a goal internally known as 'the 5% alchemy.' The accumulation was achieved in less than a year, highlighting the speed of capital deployment.
In addition to Ethereum, Bitmine's total asset portfolio—including cryptocurrencies, cash, and other investments—is valued at approximately $11.4 billion, including $864 million in cash. The company reported rapid growth over the past year.
$4 Billion Buyback Program
Concurrent with the listing, Bitmine's board approved a massive expansion of its share repurchase program, increasing the authorization from $1 billion to $4 billion. According to Fundstrat, this ranks among the largest buyback announcements globally this year. The company stated the plan provides flexibility to repurchase shares when the stock price falls below intrinsic value. Repurchases will be conducted through open-market transactions under standard regulatory guidelines, with Cantor Fitzgerald & Co. acting as the executing broker.
Bitmine noted that combining aggressive asset accumulation with capital market strategies like stock buybacks differentiates it from many publicly listed peers. The company also emphasized that the liquidity of its stock is a competitive advantage for investors.
Strong Institutional Backing
Bitmine has secured support from prominent institutional investors, including Cathie Wood's ARK Invest, Founders Fund, Pantera Capital, and Galaxy Digital. This investor base has enabled rapid expansion and a sharp focus on maximizing per-share cryptocurrency net asset value.
Chris Taylor, Chief Development Officer of the New York Stock Exchange, said Bitmine's focus on the Ethereum ecosystem makes it a highlight for the exchange. The twin announcements—uplisting and expanded buyback—reflect a broader trend of crypto-native firms seeking deeper integration with traditional financial markets. By listing on the NYSE and simultaneously boosting its shareholder returns plan, Bitmine is positioning itself at the intersection of digital assets and traditional equity markets.