BitMine Immersion Technologies is asking shareholders to approve a significant increase in its authorized shares.

The leadership, led by Chairman Tom Lee, clarifies that this strategic maneuver aims to facilitate future stock splits, which are anticipated due to the rising share price closely linked with their main treasury asset: Ethereum (ETH).

Shareholder Vote Focuses on Future Flexibility

In posts from January 2, Lee addressed investors regarding Proposal 2, which seeks to boost BitMine’s authorized common stock from 500 million to 50 billion shares, with a vote on this measure scheduled for January 14.

Lee dismissed concerns about immediate shareholder dilution, instead laying out three strategic reasons for the proposed increase: enabling selective capital raises, allowing for opportunistic mergers, and preparing for future share splits.

“The last point is key,” Lee stated. “Any time a company splits shares, total authorized needs to be high enough to accommodate.”
“Bu noktayı belirtmek önemlidir,” dedi Lee. “Herhangi bir şirketin hisse senedi bölmesi gerektiğinde, toplam yetkilendirilmiş miktarın yeterince yüksek olması gerekiyor.”

This strategy aligns with BitMine’s plan to pivot to holding Ethereum as its primary treasury asset by mid-2025.

Lee emphasizes a bullish long-term outlook for Ethereum, referencing institutional support for tokenization and asserting that much of this activity will take place on its network.

He envisions a future where Ethereum’s price could ascend to levels such as $22,000, $62,000, or even $250,000, particularly in scenarios where Bitcoin hits $1 million.

Currently priced just over $3,000, Ethereum has seen a 3.5% increase over the last 24 hours, yet remains 39% shy of its all-time peak in August 2025. Despite recent challenges, Lee and BitMine are bullish on Ethereum’s potential in reshaping finance.