BitMine Eyes 1,000x Share Increase as Ethereum-Based Strategy Scales

TLDR

• BitMine proposes increasing authorized shares from 50M to 50B to support growth.

• Chairman Lee says the move enables stock splits and capital flexibility.

• BitMine has staked $259M in ETH, bringing total holdings to $1.7 billion.

• Shareholders are expected to vote by January 14 before the January 15 meeting.

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BitMine Immersion (BMNR) has asked shareholders to approve a board proposal to increase the company’s authorized shares from 50 million to 50 billion. Chairman Tom Lee stated that the move would not result in immediate dilution but would provide flexibility for future capital actions.

According to Lee, the expansion is designed to support long-term growth, facilitate future stock splits, and allow for opportunistic acquisitions. Shareholders must vote by January 14 ahead of the company’s annual meeting in Las Vegas on January 15.

Lee emphasized that the company’s share price is increasingly tied to the price of Ether. He said BitMine may eventually need a stock split if Ether’s price reaches projected highs.

Ethereum-Linked Treasury Strategy Drives Proposal

BitMine began shifting from a Bitcoin-focused model to an Ethereum-centric treasury strategy in 2025. Since then, the company has been steadily accumulating ETH and staking tokens to earn rewards on the Ethereum network.

Lee said Ether’s long-term potential, if realized, could push BitMine’s share price to levels unaffordable for many investors. He cited an ETH price projection of $250,000, which he said could push BitMine shares as high as $5,000, prompting a need for a potential 100:1 stock split.

$259 Million Staked in ETH as Total Holdings Reach $1.7 Billion

BitMine continues to grow its Ethereum holdings, recently staking $259 million worth of ETH. The company has now accumulated a total of $1.7 billion in Ether, including more than 4 million tokens held across its treasury accounts.

The latest ETH purchase involved 32,938 coins valued at over $102 million at the time of acquisition. The staked ETH is part of BitMine’s broader plan to earn consistent returns while supporting Ethereum’s proof-of-stake network.

Staking allows validators to earn yield by locking up tokens to help secure the blockchain. BitMine has steadily increased its staking exposure in line with its long-term ETH strategy.

Investor Response and Voting Deadline

Reactions to Lee’s proposal have been mixed. Some users on social platforms raised concerns about the scale of the proposed share authorization, viewing it as a potential risk for dilution. Others pointed to the need for flexibility given the company’s evolving capital structure.

Lee addressed these concerns by stating that the expansion only increases the total authorized shares, not the number of issued shares. He also highlighted that keeping BitMine shares affordable for retail investors is a priority.

The board is encouraging all shareholders to cast their votes by January 14. Results will be discussed during the company’s annual meeting scheduled for January 15 in Las Vegas.

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