Overview
- BitMine is asking investors to amend its charter to raise the authorized share cap from 500 million to 50 billion, with votes due by January 14 and results to be confirmed at the January 15 annual meeting in Las Vegas.
- Lee says a larger share pool would support capital-raising tools such as at-the-market offerings, convertibles and warrants, provide capacity for opportunistic M&A, and enable future stock splits.
- He emphasized that the request sets a maximum authorization rather than a plan to issue new shares now, pushing back on concerns about dilution.
- The message ties BitMine’s strategy to its Ethereum-focused treasury shift, asserting BMNR’s stock has tracked ether and citing broader momentum for tokenization highlighted by BlackRock’s Larry Fink.
- The company cites institutional supporters backing its ambition to accumulate a meaningful share of circulating ETH, framing the governance change as groundwork for that plan.