Ether treasury company Bitmine Immersion Technologies started trading on the New York Stock Exchange on Thursday, a move accompanied by a fourfold expansion of its share buyback program to $4 billion.
"The NYSE is the most prestigious venerable stock exchange with a storied history," Tom Lee, Bitmine's chairman, said in a statement. "The NYSE is the envy of capital markets around the world and Bitmine is proud to be the newest company traded on this exchange.”
Bitmine's board unanimously expanded the July 2025 share repurchase program from $1 billion to $4 billion. The move comes as the company's stock (BMNR) closed at $21.08 on Thursday, a decline of more than 64 percent over the past six months, according to Google Finance.
The uplisting from the small-cap-focused NYSE American suggests a new phase of growth for Bitmine, increasing its exposure to larger capital pools. The expanded buyback signals management's confidence that its stock may be undervalued, a tactic used by crypto treasury companies to support share prices.
Gaining a listing on the NYSE requires a company to meet strict requirements covering financial health, corporate governance, and share distribution. Companies must have a majority of independent directors and form audit, compensation, and governance committees. The exchange also mandates a minimum of 400 shareholders and 1.1 million publicly held shares.
"With its focus on advancing the Ethereum ecosystem, Bitmine is a strong addition to the NYSE community,” said Chris Taylor, the NYSE Group’s chief development officer.
This article is for informational purposes only and does not constitute investment advice.
