Tom Lee urges BitMine shareholders to approve share increase ahead of January 14 vote
Tom Lee urges BitMine shareholders to approve share increase ahead of January 14 vote
The chairman of the former bitcoin miner-turned-ether treasury firm reiterated his view that Ethereum is the future of finance.
What to know:
- Tom Lee, chairman of Bitmine Immersion (BMNR), urged shareholders to approve an increase in the company’s authorized share count from 500 million to 50 billion.
- Lee assured shareholders that the increase is not intended to dilute shares, but instead to enable capital raising, dealmaking, and future share splits.
- Shareholders have until January 14 to vote on the proposal, with the annual meeting scheduled for January 15 in Las Vegas.
Tom Lee, chairman of ether treasury firm BitMine Immersion (BMNR), urged shareholders to approve a board proposal for a sharp increase in the company’s authorized share count.
In a start-of-the-year message, Lee said the proposal to boost the company’s number of shares to 50 billion from 500 million is not a precursor to a move to “dilute” shareholders.
“[This]t doesn’t mean we’re issuing 50 billion shares. That’s what we want the total max shares to be,” Lee said.
Acknowledging that a higher share count does make it easier to enable the company to raise capital, Lee reminded that it also allows BitMine to pursue opportunistic dealmaking and — most importantly, according to Lee — accommodate future share splits.
Lee argued that BitMine’s share price has increasingly tracked ether since the company pivoted last year to make ETH its primary treasury asset. If ether’s price rises over the years as he expects — as high as $250,000 if bitcoin reaches $1 million — splits will be necessary to keep shares “accessible” to the public.
Lee framed the proposal within a broader thesis that Ethereum will play a central role in Wall Street’s push toward tokenized financial markets, pointing to public comments by BlackRock CEO Larry Fink about blockchain-based market infrastructure. Lee has separately said he has been accumulating ether personally, aligning his macro view with BitMine’s treasury strategy.
Lee reminded shareholders that they have until Jan. 14 to vote on the proposal, with BitMine’s annual shareholder meeting scheduled for Jan. 15 in Las Vegas.
More For You
KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Morgan Stanley files for ether trust after bitcoin and solana ETF push
The Wall Street giant is widening its crypto push, following bitcoin and solana ETF filings with a potential ether trust.
What to know:
- Morgan Stanley has filed a registration statement with the SEC for an Ethereum Trust.
- The filing comes days after the bank submitted paperwork for spot bitcoin and solana ETFs, as crypto ETFs have rapidly expanded in the U.S. over the past two years.
- Morgan Stanley began offering crypto access to clients in October through its wealth management arm, reflecting growing institutional adoption of digital assets.
Strategy’s STRC perpetual preferred stock returns to $100, may trigger more bitcoin buying
Start-of-the-year recovery rally stalls: Crypto Daybook Americas
Nike sells its NFT and virtual sneakers amid lack of digital art market interest: report
Crypto Markets Today: Bitcoin slides as Asia-led sell-off hits altcoins
Morgan Stanley files for ether trust after bitcoin and solana ETF push
Bitcoin slides toward $91,000 with two CME pricing gaps coming into focus
Morgan Stanley files for ether trust after bitcoin and solana ETF push
Crypto Markets Today: Bitcoin slides as Asia-led sell-off hits altcoins
XRP could outperform bitcoin as XRP/BTC chart shows rare Ichimoku breakout since 2018
Bitcoin miners chase AI demand as Nvidia says Rubin is already in production
Start-of-the-year recovery rally stalls: Crypto Daybook Americas
Crypto traders can now take leveraged bets on silver via Binance Futures
!–>!–>!–>!–>
Read More
Be the first to write a comment.
