Overview
- Bitmine, which began trading on the New York Stock Exchange Thursday, also won board approval to lift its share repurchase authorization from $1 billion to $4 billion.
- Following Thursday’s debut pullback to about $21.10, BMNR logged a five-day gain of roughly 13.6% by Friday, though the stock remains well below last summer’s peak.
- The company reports 4.803 million ETH on its balance sheet, equal to about 3.98% of supply, and it continues to target ownership of 5% of all ether.
- Bitmine says 3,334,637 of its ETH are staked, which it claims is the largest staked position held by any single entity, reinforcing a treasury model that seeks yield from the Ethereum network.
- Repurchases will occur through open‑market trades under Rule 10b‑18 via Cantor Fitzgerald, a program the company positions for use when shares trade below intrinsic value and that Fundstrat ranks among 2026’s largest.