Bitmine Buys 71,252 Ethereum As BMNR Stock Uplists To NYSE

by | Apr 6, 2026 | General

Bitmine Immersion Technologies (NYSE:BMNR) surged 7.5% to $20.91 after buying 71,252 ETH last week—the fastest pace since December—as the stock uplists to NYSE on April 9.

The Accumulation Blitz

Chairman Tom Lee framed the buying as a bet that Ethereum is in “the final stages of the mini-crypto winter.”

Total crypto and cash holdings now stand at $11.4 billion, including $864 million in cash, 198 BTC, and stakes in Beast Industries and Eightco Holdings (NASDAQ:ORBS). 

The ORBS position gives Bitmine one of the only publicly listed exposures to OpenAI.

Bitmine now owns 3.98% of Ethereum’s 120.7 million circulating supply, putting it 79% of the way to its “Alchemy of 5%” target in just nine months. The company remains the largest ETH treasury in the world.

The Wartime Store Of Value Thesis

Lee made a wartime case for Ethereum, noting that ETH has gained 6.8% since the Iran conflict began, outperforming the S&P 500 (NYSE:SPY) by 1,130 basis points and gold by 1,840 basis points.

“ETH is the wartime store of value,” Lee said. “Ethereum continues to benefit from the dual tailwinds of Wall Street tokenizing on the blockchain and from agentic AI systems increasingly needing public and neutral blockchains.”

The NYSE Uplist

Bitmine’s stock will cease trading on NYSE American after market close on April 8 and commence trading on the NYSE effective April 9. 

The stock will continue trading under the symbol “BMNR.”

Bitmine is now the 96th most traded stock in the U.S. with average daily volume of $987 million, ranking between Schlumberger and Adobe. 

The investor base includes ARK Invest, Founders Fund, Pantera, Galaxy Digital, and Kraken.

The Technical Break

BMNR is breaking above the descending trendline that has capped every rally since November 2025. 

That trendline rejection has been the defining feature of this downtrend—today’s breakout is genuinely significant if it closes above.

The Parabolic SAR at $22.29 and Supertrend at $22.86 sit overhead within a tight $0.57 range. 

A close above both would be the first back-to-back bullish signal confirmation in months.

Key support sits at $20.00 with $19.00 below that. Resistance clusters at $22.29 (SAR), then $22.86 (Supertrend), then $29.60.

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