Tom Lee Urges BitMine Shareholders to Approve Share Increase Ahead of January Vote
BitMine Immersion (BMNR), a former bitcoin miner that has pivoted to become an ether treasury firm, is led by chairman Tom Lee. The company has proposed raising its authorized share count from 500 million to a maximum of 50 billion shares. This proposal, which does not constitute an immediate issuance of shares, is intended to enable future capital raising, dealmaking, and share splits without diluting existing shareholders.
Shareholders are required to vote on the proposal by January 14, ahead of BitMine's annual meeting on January 15 in Las Vegas. Tom Lee emphasizes that the increase is necessary to keep shares accessible in light of potential ETH price increases, envisioning share splits if Ethereum’s price reaches $250,000 or Bitcoin hits $1 million.
Lee underscores Ethereum's central role in tokenized finance, citing BlackRock CEO Larry Fink’s supportive comments on the subject. Aligning with this outlook, Lee has personally been accumulating ether, matching his macroeconomic view with BitMine’s treasury strategy. The strategic pivot to make ETH the primary treasury asset occurred last year.
