Bitmine Immersion Technologies expanded its share repurchase program to $4 billion as it began trading on the New York Stock Exchange.
The company increased the authorization from $1 billion, with chairman Tom Lee saying Bitmine wants the flexibility to retire stock when shares trade below intrinsic value. According to the company, the enlarged plan ranks among the 10 biggest buybacks announced in 2026.
The repurchase program was originally approved on July 25, 2025 and will continue under its existing terms. Bitmine said repurchases may be made through open-market transactions under Rule 10b-18 and through its agreement with Cantor Fitzgerald.
The announcement coincided with Bitmine’s move from NYSE American to the NYSE, where its shares started trading on April 9 under the same ticker.
The company has continued building its Ethereum treasury alongside the buyback expansion. On April 6, Bitmine said it held 4,803,334 ETH as of April 5, up by 71,252 ETH from the prior week. That amounted to roughly 3.98% of Ethereum’s total supply, bringing the company closer to its stated goal of owning 5% of all ETH.
