Overview
- Bitmine, which began trading on the NYSE Thursday, closed at $21.10, down 1.95% after an early pop faded.
- The company raised its share repurchase authorization to $4 billion from $1 billion to support the stock.
- Cantor Fitzgerald will run the buybacks under Rule 10b-18, which limits how much and when a company can buy each day.
- Bitmine disclosed holdings of about 4.803 million ether, equal to 3.98% of supply, as it pursues a 5% stake.
- The NYSE move is meant to draw larger investors and more liquidity, yet the first session showed typical volatility as the market set a new price.