Tom Lee Calls on BitMine Shareholders to Approve Share Count Hike

TLDR

• Tom Lee has asked BitMine shareholders to approve an increase in the authorized share count to 50 billion.
• The vote on the proposal will remain open until January 14 ahead of the annual meeting on January 15 in Las Vegas.
• Lee stated that the increase does not mean the company will issue all 50 billion shares immediately.
• He explained that the higher limit would allow BitMine to raise capital and pursue future business opportunities.
• Lee highlighted that the increased share count would support possible stock splits as Ether’s price rises.

Tom Lee, chairman of BitMine Immersion (BMNR), has urged shareholders to approve a sharp rise in the company’s authorized share count, and the vote will close on January 14 before the annual shareholder meeting on January 15 in Las Vegas, where the outcome will be confirmed.

Proposal to Increase Share Count from 500 Million to 50 Billion

BitMine’s board is proposing a tenfold increase in the authorized share count, aiming to raise it to 50 billion shares.

Tom Lee clarified in his message that this move will not immediately result in issuing all those shares.

“This doesn’t mean we’re issuing 50 billion shares,” Lee said, stressing the company wants flexibility for the future.

He explained that the higher share ceiling allows BitMine to pursue more capital and future strategic opportunities without delay.

He emphasized that it will also enable the firm to execute share splits if the stock price rises substantially over time.

Ethereum-Centric Strategy and Treasury Alignment

Lee also tied the proposal to BitMine’s strategic alignment with Ethereum, which now anchors the firm’s treasury reserves.

BitMine pivoted last year to adopt ETH as its primary asset, and Lee said the share price increasingly tracks ether’s value.

He forecasted that if bitcoin reaches $1 million, ether may reach $250,000, which could push BitMine’s stock price much higher.

Consequently, the increased share count would help accommodate future stock splits to maintain affordability for the public.

Lee emphasized that this strategy fits the company’s long-term treasury and capital markets outlook, which is centered on Ethereum.

He also pointed to his personal ETH accumulation, showing alignment between personal conviction and BitMine’s corporate direction.

BitMine Share Proposal Targets Deal Readiness

Lee said the proposed share count expansion would allow BitMine to act fast on deals and maintain flexibility for potential ventures.

He stated that this capacity would position the firm well for any opportunities without needing additional shareholder approval.

He added that readiness to issue new shares helps the firm secure liquidity or partnerships as needed in dynamic markets.

Lee also referenced BlackRock CEO Larry Fink’s public support of blockchain infrastructure, noting alignment with BitMine’s blockchain focus.

He framed the proposal as part of BitMine’s broader plan to participate in the future of tokenized financial systems.

Shareholders have until January 14 to cast votes on the proposal, ahead of the company’s January 15 meeting in Las Vegas.

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