Bitmine to List on NYSE Main Market on the 9th...Secures 4.8 Million Ether [Crypto Briefing]

[Financial News] Bitmine Immersion Technologies (Bitmine), which is listed on NYSE American, will move its listing to the New York Stock Exchange (NYSE) main market on the 9th (local time). Bitmine is a Digital Asset Treasury (DAT) company that holds about 4.8 million Ether, equivalent to roughly 4% of the global circulating supply of Ethereum (ETH). As Bitmine is upgraded from the “second-tier” NYSE American to the “primary” NYSE main market, expectations are rising that institutional investors will gain easier access and that liquidity will improve on the back of higher trading volumes.
According to foreign media and industry sources on the 8th, Bitmine’s board of directors officially announced that trading of Bitmine common shares will begin on the NYSE main market from the 9th. The transfer to the main board not only means the company has met the exchange’s stringent continued listing requirements, but also that it has been elevated to an “institutional-grade” stock that can be included in the portfolios of large institutional investors.
A crypto industry official said, “By entering the NYSE main market, Bitmine is likely to see expanded stock liquidity and lower capital-raising costs,” adding, “Just as MicroStrategy (ticker: MSTR) has adopted a Bitcoin-focused DAT strategy, Bitmine, which treats Ethereum as its core asset, is poised to become a key investment alternative for institutions.”
According to Bitmine’s announcement, the company currently holds about 4.803 million Ether, and its combined digital asset and cash holdings total USD 11.4 billion. It has also built a structure that generates roughly USD 282 million in annual revenue through Ethereum staking (yield-earning deposits).
Korean retail investors trading U.S. stocks are also showing strong interest. According to the Korea Securities Depository (KSD), domestic investors recorded net purchase settlements of USD 52,944,720 in Bitmine shares over the past month, ranking 18th among all foreign stocks. Within the crypto-related segment, it ranked first in net purchases, outpacing major names such as MicroStrategy (21st overall). As of the 6th, Korean investors’ total Bitmine holdings stood at USD 797 million, exceeding their USD 706 million holdings in Circle, the issuer of the USD Coin (USDC) stablecoin.
However, caution is warranted because Bitmine’s share price shows a high correlation with the price of Ethereum. According to Investing.com, Bitmine closed at USD 20.17 on the 7th, down 2.09% from the previous day, suggesting a period of consolidation. After the NYSE main market listing, potential increases in volatility and the yield on its staking operations are also being cited as key variables.
In response, Tom Lee, chair of Bitminephotoreiterated his intention to continue aggressive buying, emphasizing Ethereum’s role as a store of value. In an official statement, Lee noted, “Despite geopolitical crises such as the war in Iran, Ethereum has risen 6.8%, outperforming the S&P 500 Index by 11.3 percentage points.” He added, “Ethereum will continue to benefit from the trend toward blockchain-based tokenization and tailwinds from artificial intelligence (AI).”

elikim@fnnews.com Reporter Kim Mi-hee Reporter