Share Increase Plan Aims to Support Capital Growth and Manage Rising Ethereum Exposure
BitMine Immersion Technologies saw its stock jump sharply after the company announced a proposal to significantly expand its authorized share count. The move comes as the firm continues to deepen its exposure to Ethereum and position itself for future growth in capital markets and acquisitions.
BitMine Share Price Rises on Expansion Proposal
Shares of BitMine Immersion Technologies (BMNR) climbed 14% in a single trading session, reaching $30.93 in afternoon trading. The rally followed confirmation that shareholders are being asked to approve an increase in authorized shares from 500 million to 50 billion.
The proposal is described as a “dramatic” share increase, designed to give the company flexibility for future fundraising, mergers, acquisitions, and potential stock splits. Management emphasized that the plan does not immediately dilute existing shareholders but creates room for long-term strategic actions.
Ethereum Price Ties Drive Structural Changes
BitMine’s stock performance closely tracks Ethereum’s market price. Company leadership noted that if Ethereum were to rise to $22,000, the stock could approach $500 per share, while an Ethereum price of $62,500 could push shares toward $1,500. Keeping the stock price accessible, around $25 per share, was cited as a key objective.
BitMine remains the largest Ethereum digital asset treasury company, holding approximately 4,110,525 ETH, or 3.41% of Ethereum’s circulating supply. Shareholders have until January 14 to vote on the proposal, which could shape the company’s capital structure for years to come.
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