TLDR
- BitMine stock rose by 14 percent and closed at $31.03 following a new shareholder proposal.
- Chairman Tom Lee asked shareholders to approve an increase in authorized shares to 50 billion.
- The company currently has 500 million authorized shares and is seeking to expand that limit.
- Tom Lee stated that BitMine’s stock price closely tracks the value of Ethereum.
- He explained that higher Ethereum prices could push BMNR shares above $500 or more.
BitMine Immersion Technologies saw its shares rise by 14% to $31.03 after Chairman Tom Lee proposed increasing authorized shares to 50 billion, a move aimed at supporting capital activities, potential acquisitions, and future stock splits to maintain an affordable share price for retail investors.
BitMine proposes 50 billion authorized shares to prepare for ETH-driven growth
Tom Lee, chairman of BitMine Immersion Technologies, asked shareholders to approve an increase in authorized shares from 500 million to 50 billion. He outlined this proposal in a video posted on YouTube Friday, calling the planned increase “dramatic” but necessary. The company aims to accommodate capital market activities and prepare for future stock splits.
Lee said BitMine’s stock price closely follows Ethereum, and if ETH rises, BMNR shares could become too expensive. He gave examples, stating that if ETH reached $22,000, BitMine’s stock could climb to around $500. If ETH surged to $62,500, shares might reach $1,500, according to Lee.
He emphasized the need to keep the share price affordable to retail investors, ideally around $25. “Not everybody wants a stock price at $500 or $1,500,” Lee said. Therefore, the share increase would enable splits to maintain accessibility. Lee described this goal as “the most important reason” for the proposal.
The company confirmed that increasing the number of shares would not result in immediate issuance of all 50 billion. Instead, it would serve as a cap for potential future needs. Shareholders must vote on the proposal by January 14.
BitMine treats Ethereum as its main treasury asset, holding 4,110,525 ETH after a recent addition of 44,463 tokens. This gives the company control of approximately 3.41% of ETH’s circulating supply. Its share price, therefore, often mirrors Ethereum’s market performance.
Lee stated that BitMine intends to expand through capital market tools such as ATM offerings, convertible instruments, or preferred equity. He also confirmed that future acquisitions are under consideration. These strategic objectives would require more authorized shares.
He explained that Ethereum’s long-term growth supports BitMine’s business model and valuation outlook. “Ethereum in our view is the future of finance,” Lee said. Therefore, higher ETH prices would naturally elevate BMNR’s value. The stock’s structure needs flexibility to handle such potential surges.
BitMine stock climbs on market response to share increase proposal
Investors responded positively to Lee’s announcement, with BitMine stock closing Friday at $31.03, marking a 14% daily gain. Trading volume also increased following the release of Lee’s statement on YouTube. The market appeared to support the rationale behind the proposed share expansion.
Bitmine Immersion Technologies, Inc., BMNR
Lee addressed concerns by clarifying the company will not automatically issue new shares if approved. The authorization is only a contingency for future growth plans. This ensures the company remains positioned for expansion without needing another shareholder vote.
Ethereum traded at $3,110.76 at press time, while Lee predicted it could rise to $7,000–$9,000 by early 2026. BitMine’s stock price would likely follow ETH’s upward trajectory. Lee stressed that the company must stay prepared for any such scenario. The shareholder vote on the 50 billion share proposal closes on January 14, 2026.
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