Tom Lee Urges BitMine Shareholders to Approve Huge Share Increase Ahead of January Vote
Tom Lee, chairman of BitMine Immersion (BMNR), has called on shareholders to approve a significant increase in the company's authorized shares, from 500 million to 50 billion. This proposal is intended to support capital raising efforts, enable opportunistic dealmaking, and allow for future share splits. Lee emphasized that the move does not mean the issuance of 50 billion shares outright.
Shareholders are required to vote on this proposal by January 14, with BitMine's annual meeting scheduled for January 15 in Las Vegas. Last year, BitMine shifted strategy to make Ethereum its primary treasury asset. Lee connects this decision to Ethereum's emerging central role in finance and anticipates that it will be key to Wall Street's transition toward tokenized financial markets.
Supporting this view, Lee referenced statements from BlackRock CEO Larry Fink regarding blockchain infrastructure. Aligning with the company's treasury strategy, Lee has also been personally accumulating Ether. He argues that increasing the authorized share count will facilitate easier capital raising and allow for share splits to keep shares accessible as Ether appreciates, especially considering potential Ether-to-Bitcoin valuation scenarios.
