BitMine has announced a significant proposal to increase its authorized share count from 50 million to 50 billion, a strategic move aimed at fostering growth and enhancing capital flexibility. This decision, articulated by Chairman Tom Lee, is designed to enable potential stock splits and facilitate future acquisitions without causing immediate dilution of existing shares.
With a current stake of $259 million in Ethereum (ETH), BitMine”s total cryptocurrency holdings have now reached an impressive $1.7 billion. This shift towards an Ethereum-focused treasury strategy marks a pivotal change for the company, which had previously concentrated on Bitcoin. The company began this transition in 2025, steadily increasing its ETH acquisition and staking efforts to generate rewards from the Ethereum network.
Lee highlighted that as Ether”s price continues to rise, the value of BitMine”s shares is increasingly correlated with ETH. He mentioned a projection where ETH could reach $250,000, which could elevate BitMine”s share price to as high as $5,000, thereby necessitating a potential 100:1 stock split to keep shares accessible for retail investors. “The current shares outstanding are 426 million, and we are trying to get the authorized share count to 50 billion,” Lee explained, clarifying that this does not mean the company will issue all 50 billion shares immediately.
As part of its Ethereum strategy, BitMine recently staked ETH worth $259 million, further solidifying its position in the market. The company now holds over 4 million ETH across its treasury accounts, demonstrating a commitment to maximizing returns while contributing to the security of the Ethereum blockchain through staking.
Investor reactions to the proposed share increase have varied. Some stakeholders expressed concerns over potential dilution risks, while others recognized the necessity of flexibility in a rapidly evolving capital landscape. Lee addressed these worries by emphasizing that the proposed increase pertains only to authorized shares, not issued shares, and reaffirmed the importance of maintaining affordability for retail investors.
All shareholders are urged to participate in the voting process by January 14, ahead of the annual meeting scheduled for January 15 in Las Vegas, where the results of the vote will be announced. This development marks a crucial juncture for BitMine as it seeks to align its capital structure with the ambitious goals set forth in its new Ethereum-focused strategy.
