Tom Lee Urges BitMine Shareholders to Approve Share Increase Ahead of January Vote
Tom Lee, chairman of BitMine Immersion (BMNR), has called on shareholders to approve an increase in the company’s authorized share count from 500 million to 50 billion.
The proposed increase aims to enable capital raising, dealmaking, and potential future share splits. Lee emphasized that the increase is not intended to dilute existing shareholders.
Shareholders are required to vote on the proposal by January 14, 2026, ahead of the company's annual meeting scheduled for January 15, 2026, in Las Vegas.
BitMine Immersion has shifted its business strategy from bitcoin mining to an Ethereum treasury approach, designating ETH as its primary treasury asset. Lee argues that Ethereum will play a central role in Wall Street's transition toward tokenized financial markets.
Aligning with this macro perspective, Lee has been personally accumulating ether. The proposal to authorize up to 50 billion shares does not imply an immediate issuance of that many shares. However, if Ethereum's price rises significantly, share splits may be necessary to keep BitMine’s shares accessible to the public.
