Tom Lee’s Bitmine uplists to NYSE with 4.8M ETH and $4 billion buyback authorization

Bitmine Immersion Technologies (BMNR) began trading on the New York Stock Exchange on Thursday, switching from the NYSE American, where its stock ceased trading at Wednesday's close. 

"Today, Bitmine achieved a major milestone by being uplisted to the 'Big Board' NYSE. The NYSE is the most prestigious venerable stock exchange with a storied history," Chairman Tom Lee said in a statement.

In addition to the uplisting, Bitmine's board unanimously approved an increase to its 2025 share repurchase authorization from $1 billion to $4 billion. The revised program ranks among the 10 largest buybacks announced in 2026, per Fundstrat's 2026 buyback ranking cited in the statement. Other companies in that category include Alphabet, Meta, and Apple.

The repurchase program, originally approved on July 25, 2025, permits open market transactions under Rule 10b-18 of the Securities Exchange Act of 1934 through an agreement with Cantor Fitzgerald. The $4 billion authorization includes shares already repurchased under the prior program, Bitmine said.

The development follows Bitmine's largest weekly ETH acquisition since December. In the week ending April 5, the company added 71,252 ETH, raising total holdings to 4.803 million tokens worth over $10 billion at current prices. Bitmine also reported 3,334,637 staked ETH as of April 6, or $7.1 billion at $2,123 per token, and said it has staked more ETH than any other entity globally.

"Bitmine has maintained the increased pace of ETH buys in each of the past four weeks, as our base case ETH is in the final stages of the 'mini-crypto winter,'" Lee said in a statement on Monday.