BitMine Immersion Technologies (BMNR) commenced trading upon the New York Stock Exchange on the ninth of April; alas, the stock declined by nearly two percent notwithstanding the public declaration of a four-billion-dollar buyback.
The transition from the NYSE American to the main NYSE board marks the Ethereum-focused treasury firm’s most momentous corporate affair to date, a progression met with more ceremony than certainty, one must admit.
BitMine Lands on NYSE, Expands Buyback to $4 Billion
Chairman Thomas “Tom” Lee confirmed the uplisting on April 9. BMNR ceased trading on the NYSE American after-market on April 8 and opened on the main board the following morning.
Heartiest felicitations to Bitmine $BMNR – It is, indeed, a matter of consequence to uplist upon the @NYSE Big Board.
– Thomas (Tom) Lee (not drummer) FundstratDirect.com (@fundstrat) April 9, 2026
Alongside this ascent, the BitMine board, by unanimous consent, enlarged the 2025 share repurchase programme fourfold, increasing the authorization from $1 billion to $4 billion, thereby placing it among the ten greatest buyback announcements of 2026, according to Fundstrat’s records.
“There may, at some future season, be a time when Bitmine shares trade below intrinsic value, and the Company desires to be suitably empowered to retire the common shares with accretive intention,” read the announcement.
Repurchases will proceed under existing terms through open market transactions conducted via Cantor Fitzgerald & Co.
4.8 Million ETH and a 5% Supply Target
As of this writing, BitMine held approximately 4.803 million Ethereum tokens valued at roughly $10.6 billion at current prices near $2,218.
That position represents 3.98% of total ETH supply, putting the firm over 79% toward its stated “Alchemy of 5%” accumulation target.
Despite these figures, BMNR stock slid from a previous close of $21.52, dipping as low as $20.50 during the session before partially recovering.
The muted reaction signals that investors may have already priced in the uplisting news, which BitMine first disclosed on April 6.
BitMine counts ARK Invest’s Cathie Wood, Founders Fund, Pantera Capital, and Galaxy Digital among its institutional backers.
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2026-04-09 19:56