Bitmine Seeks Shareholder Approval to Increase Shares

Key Highlights

Bitmine is asking shareholders to approve an increase in authorized shares from 500 million to 50 billion before the January 14, 2026 deadline.
The company continues to double down on Ethereum, holding about 4.07 million ETH and staking $1.37 billion worth of ETH for long-term use.
Bitmine plans future stock splits to keep shares affordable if Ethereum prices rise, which is why more authorized shares are needed.

Bitmine Immersion Technologies, Inc. (NASDAQ: BMNR) has asked its shareholders to vote on a proposal to increase the company’s authorized shares from 500 million to 50 billion. The deadline for voting is January 14, 2026, at 11:59 p.m. ET, ahead of the annual meeting scheduled for January 15, 2026, at the Wynn Las Vegas.

In a video message posted on the Bitmine website, Chairman Tom Lee explained why the company needs more shares. “Increasing authorized shares will allow Bitmine to conduct capital market activities, pursue mergers or acquisitions, and implement stock splits in the future,” he said.

Ethereum staking and long-term holdings

Bitmine made Ethereum (ETH) its main treasury asset in July 2025, and its share price has closely followed ETH’s price movements since then. The company has noted that Ethereum represents the future of finance, a trend supported by Wall Street leaders.

The company projects that if ETH reaches certain future prices, Bitmine shares could rise dramatically. For instance, a $22,000 ETH price could mean $500 per BMNR share, while $250,000 ETH could mean $5,000 per share. To keep shares affordable for the public, Bitmine plans stock splits ranging from 20:1 to 100:1, which requires approval for more authorized shares.

The firm has also increased its Ethereum staking activity. On December 31, Bitmine staked an additional 118,944 ETH, worth about $352 million, which raised its total staked ETH to 461,504 tokens, valued at around $1.37 billion.

During December, Bitmine added more than 44,000 ETH in one week and bought nearly 68,000 ETH in a single day on December 24. Other large purchases followed, which raised total ETH holdings to about 4.07 million tokens worth nearly $12 billion.

Bitmine is supported by major institutional investors, including ARK’s Cathie Wood, Founders Fund, Pantera, Galaxy Digital, Kraken, DCG, and personal investor Tom Lee. The company currently holds 3.97 million ETH valued at $12.2 billion, 193 Bitcoin, a $36 million stake in Eightco Holdings, and $1 billion in cash. Total assets now stand at $13.3 billion.

Despite modest revenue of $6.09 million in the past year, BMNR is profitable with a P/E ratio of 2.93 and more cash than debt. Shareholders have been encouraged to watch the chairman’s video, vote on the four proposals, and attend the annual meeting in person or via livestream.

Also Read: Grayscale Flags 2026 as Crypto’s Institutional Inflection

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