Bitmine xStock 

BMNRX Price

What is the Bitmine xStock (BMNRX) tokenized stock?

Bitmine xStock (BMNRX) is a tokenized tracker certificate that gives crypto traders on-chain exposure to BitMine Immersion Technologies (BMNR) — the NYSE-listed Ethereum-treasury company chaired by Tom Lee. Backed Finance issues BMNRX under its xStocks product line, and each token is collateralized 1:1 by one BMNR share held with a regulated custodian. BMNRX is a wrapper on the equity, not the share itself, and is separate from Ondo's BMNRon tokenization. DropsTab classifies the asset as a Tokenized Stock.

Is BMNRx the same as BMNR stock?

No — BMNRx is a tokenized tracker certificate on BMNR equity, not the share itself. Backed Finance issues BMNRx on-chain, while BitMine Immersion Technologies (BMNR) trades on the NYSE as a traditional equity. Each BMNRX token tracks one custodied BMNR share at 1:1 exposure, so the token price follows the underlying stock. Holding BMNRX does not confer direct shareholder registration with BitMine Immersion Technologies — the custodian holds the underlying shares.

How is BMNRx backed by real BMNR shares?

Each BMNRX token is fully collateralized 1:1 by one BitMine Immersion Technologies (BMNR) share held with a regulated custodian, per issuer documentation. The issuing SPV is bankruptcy-remote, and custody runs under a three-party Account Control Agreement with segregated accounts. Backed Finance provides publicly verifiable proof of reserves. Dividends and stock splits on the underlying share pass through an on-chain rebasing mechanism, so each token keeps its 1:1 exposure.

Does BMNRX have a fixed maximum supply?

No — BMNRX has no fixed maximum supply. Authorized issuance tokenizes BMNR shares into new BMNRX, and redemption burns tokens back into shares, so on-chain supply expands and contracts with custodied share flows. Issuance and redemption operate 24/5, aligned with US equity market hours. Because supply tracks shares held in custody rather than a hard cap, the token count is an elastic inventory by design — the current figure is visible on DropsTab.

Where can I trade BMNRx?

Per DropsTab data, BMNRX trades on-chain on Solana decentralized exchange (DEX) venues — Meteora (BMNRX/USDC) and Raydium (CLMM) (BMNRx/USDC). DropsTab tracks no centralized exchange (CEX) spot or derivative pair for BMNRX. The token exists as a Solana SPL asset and on Ethereum with 18 decimals. Liquidity concentrates in a small number of Solana pools, so DEX venues — not CEX listings — form the verifiable trading surface for this certificate.

Can I trade BMNRX 24/7?

Yes — BMNRX transfers on-chain 24/7, while the underlying BMNR share trades only during US equity market hours. Because the token trades while the stock is closed, BMNRX can show a visible premium or discount to the underlying BMNR share, especially outside US market hours. Thin and inconsistent DEX liquidity widens that spread, so the on-chain token price and the BMNR stock price can diverge meaningfully at any given moment.

How do dividends and stock splits affect BMNRX holders?

Corporate actions on the underlying BMNR share pass through an on-chain rebasing mechanism. Dividends and stock splits — including reverse splits — adjust BMNRX balances automatically on-chain. The rebalance keeps every token at 1:1 exposure to one share, with no claim or holder action required. Fractional positions from $1 retain proportional exposure through the same mechanism.

Who can buy the BMNRx tokenized stock?

Backed Finance does not offer xStocks certificates directly to US persons or other prohibited jurisdictions. Secondary-market buyers on DEXs retain the custodian-backed claim per the issuer FAQ, but eligibility rules differ by jurisdiction. Permissionless on-chain transfer of BMNRX does not override issuer eligibility restrictions — buyers are responsible for their own jurisdictional compliance.