Bitmine Immersion Technologies now holds 4.803 million ether (ETH), valued at over $10 billion, following its largest weekly accumulation since December. The scale of accumulation signals rising corporate conviction in ETH as a treasury asset.
The company began trading on the New York Stock Exchange on Thursday after migrating from NYSE American, where shares ceased trading the previous day. Alongside the uplisting, Bitmine’s board approved an expansion of its share repurchase program to $4 billion, up from $1 billion authorized in July 2025.
Does Bitmine’s ETH Strategy Mirror Big Tech Capital Moves?
The revised buyback ranks among the 10 largest announced in 2026, according to Fundstrat data cited by the company, placing Bitmine alongside firms such as Alphabet, Meta, and Apple. Yet unlike those companies, Bitmine’s capital strategy is closely tied to digital asset accumulation rather than traditional earnings deployment.
The increase follows sustained ETH purchases over four consecutive weeks. In the week ending April 5, Bitmine added 71,252 ETH, while total staked holdings reached 3,334,637 ETH worth $7.1 billion at $2,123 per token, according to company disclosures. The firm said it has staked more ETH than any other entity globally.
“Today, Bitmine achieved a major milestone by being uplisted to the ‘Big Board’ NYSE,” said Chairman Tom Lee in a statement, describing the exchange as the most established venue in global equities.
Earlier in the week, Lee added that the company views ETH as entering the final phase of a “mini-crypto winter.”
Bitmine Immersion Technologies, Inc.
The repurchase program will be executed through open market transactions under Rule 10b-18 via Cantor Fitzgerald, including shares already acquired under the prior authorization. Still, the interaction between aggressive buybacks and continued ETH accumulation introduces balance sheet sensitivity to crypto price cycles.
Institutional positioning in ETH remains uneven across public markets, with few companies holding comparable scale. The next catalyst will likely hinge on whether Bitmine sustains its purchase pace and how ETH price momentum interacts with its capital return strategy.
