Bitmine Moves to Expand Authorized Shares Ahead of 2026 Vote

Bitmine Immersion Technologies, Inc. has asked shareholders to approve a major increase in its authorized shares. The proposal would raise the limit from 500 million to 50 billion. The vote closes on January 14, 2026. The company will hold its annual meeting on January 15, 2026, at the Wynn Las Vegas. The request marks a significant structural step for the firm as it advances its Ethereum-focused plan.

The proposal was explained in a video message posted on the Bitmine website by the chairman, Tom Lee. He claimed that the widened permission would enable Bitmine to engage in capital market operations. He also mentioned that it will provide the firm space to carry out mergers or acquisitions. Lee brought about the idea that more shares have to be available whenever there is a possibility of stock splits.

In July 2025, Ethereum became the major treasury holding of Bitmine. The company claimed that since then, changes in ETH have been reflected in the share price. Bitmine has indicated that Ethereum is the future of financial infrastructure.

Bitmine Ties Share Value to ETH Prices and Staking

Bitmine also announced forecasts based on potential ETH prices. The company mentioned that the price should be $22,000 in the future, and this will push the shares of the company to approximately $500. 

It reported that an ETH value of $250,000 would lift BMNR stock to an approximate value of $5,000. Bitmine intends to do stock splits to maintain share accessibility to the public. Splits are planned between 20:1 and 100:1 and must be approved of by further authorized shares.

Also Read: Ethereum Record Surge: 2.2 Million Transactions and Low Fees Signal Potential $4K Breakout

The company has increased its activity on stakes. Bitmine staked 118,944 ETH with the value of approximately $352 million on December 31. This made its total staked ETH 461,504 tokens. The company reported that the worth of such tokens was nearly $1.37 billion.

Rising ETH Holdings and Broad Investor Support

There was also an acceleration in accumulation in December. In a single week, Bitmine received an increment of over 44,000 ETH. It also bought close to 68,000 ETH on December 24. Several other purchases were made. The firm indicated that the activities brought the total ETH held to approximately 4.07 million tokens valued at approximately $12 billion.

Bitmine indicated that it has large institutional support. The list consists of Cathie Wood of ARK, Founders Fund, Pantera, Galaxy Digital, Kraken, DCG, and individual investor Tom Lee. The company showed an asset of 3.97 million ETH worth 12.2 billion. It also reported 193 Bitcoin, which is a $36 million investment in Eightco Holdings, and one billion dollars in cash. It has total assets amounting to $13.3 billion.

In the previous year, Bitmine noted revenue of $6.09 million. The company reported that it is still profitable and emphasized its P/E ratio of 2.93. It further reported that its current position is higher than its debt. 

Investors have been encouraged to pay attention to the message of the chairman. They are also asked to cast votes on each of the four proposals and also turn out to the annual meeting in person or online.

Also Read: Bitcoin ETF Pressure Mounts in South Korea as Approval Remains Stalled