BitMine Stock Surges 14% as Firm Stakes Another $259M in Ethereum

BitMine Immersion Technologies expanded its Ethereum staking offering as investor focus shifted to gain-based methods. The stock was on fire when its chairman, Tom Lee, was seeking approval for a huge stock boost. The move will now make the hypothetical equity performance of the company even more correlated with Ethereum and its proof-of-stake income mechanism in the future.

BitMine Immersion Technologies says that its shares rose 14% following the message to shareholders. He urged shareholders to vote in support of a bill that will drastically increase the authorized share of the company. Voting will close January 14 in conjunction with the annual meeting.

BitMine Seeks Approval to Expand Authorized Shares

Lee is seeking consent that would allow it to increase the limit on the authorized share to 50 billion instead of 500 million. He claimed that the increase in the ceiling would enable BitMine to raise capital when market conditions will enable it. He also stated that it would favor acquisition and permit future stock splits without structural limitations.

As Lee points out, the valuation of the company has undergone change in combination with the strategic focus. According to him, the stock of BitMine is currently more responsive to the fluctuations in Ethereum prices. The shift in direction is based on the shift of the firm, which initially operated based on other strategies at the operational level but moved to the use and ownership of Ethereum.

He claimed that stock splits might be required in case Ethereum gains much value over the next few years. He described the conditions under which a high price of Ethereum may influence BitMine shares to skyrocket, and it will be necessary to maintain a level of trading.

Also Read: Ethereum Signals Strength Amid Talk of Clarity Act Approval in 2026

According to on-chain data, BitMine had deposited 82,560 ETH in the Ethereum proof-of-stake contract. It was estimated that the value of the transaction was $259 million at the existing price. It was the most recent in a series of significant stake transfers that BitMine had accomplished in late December.

Ethereum Staking Grows to 544,000 ETH at BitMine

Since it introduced its staking on December 27, the company has deposited approximately 544,064 ETH to the network. At present market prices, the value of such staked assets is close to $1.7 billion. This amount is estimated to represent 13% of BitMine’s total Ether holdings, which are 4.11 million ETH.

It was another major second deposit after the one that occurred at the start of the week. BitMine put some $352 million of Ethereum at risk in the move. The general staking operation puts the company in line with the most active corporate Ethereum staking participants during this time.

This has been supported by the fast speed of staking, which is a concern on income generation via network participation. The company is not engaging in the short-term trading of Ethereum because it is locking it into the validation system, which provides protocol rewards. This method associates the returns with staking yield instead of price fluctuation.

BitMine also had previously disclosed that the Made in America Validator Network is known to start operating in 2026. Regardless of that timing, in late December the firm embarked on staking activity earlier than planned. This announcement highlights how Ethereum-based yield is one of the main priorities of the firm.

Also Read: Bitmine Moves to Expand Authorized Shares Ahead of 2026 Vote