Bitmine Immersion Technologies has released a new message from Chairman Tom Lee urging shareholders to vote before 11:59 p.m. ET on January 14, 2026 and support the proposal to raise the company’s authorized share count from 500 million to 50 billion. The company’s annual stockholder meeting is scheduled for January 15, 2026 at the Wynn Las Vegas.
Company ties the amendment to financing, deals and future stock splits
In the message, Lee explains Proposal 2, which would amend Bitmine’s certificate of incorporation to expand the number of authorized shares. The company lists three reasons for the change. First, it would support capital markets activity such as at-the-market offerings, convertibles and warrants. Second, it would give Bitmine room to pursue opportunistic transactions, including potential mergers and acquisitions. Third, and in the company’s wording the most important reason, it would allow future stock splits if needed.
Bitmine said that since its July shift to making Ethereum its primary treasury asset, BMNR shares have closely tracked ETH price moves. The materials cite a Bloomberg-based coefficient of 0.015 times ETH price, plus accretion in ETH per share, and point to a scatter chart showing the relationship between ETH and BMNR.
Illustrative price scenarios are used to argue for flexibility
The company’s presentation links the higher share authorization directly to possible stock splits. Bitmine said that if BMNR reached $500, it would need a 20-for-1 split to bring the share price back toward levels it considers accessible to the public. If the stock reached $1,500, it would need a 60-for-1 split. If it reached $5,000, the required split would be 100-for-1. Because stock splits increase the number of outstanding shares, the company said those steps would only be possible if authorized shares are raised first.
Bitmine also included several illustrative ETH and BMNR scenarios in its materials. It said $22,000 ETH would imply $500 BMNR, $62,500 ETH would imply $1,500 BMNR, and $250,000 ETH would imply $5,000 BMNR. The company noted that these figures are for illustration only and are not forecasts.
Investor roster and ETH accumulation goal featured in the release
The announcement also said Bitmine remains backed by a group of institutional and individual investors as it pursues a goal of acquiring 5% of ETH. The list includes Cathie Wood of ARK, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and personal investor Thomas “Tom” Lee.
Bitmine describes itself as a Bitcoin and Ethereum network company focused on accumulating crypto for long-term investment, either through Bitcoin mining operations or from capital raising proceeds. Its business lines include Bitcoin mining, synthetic Bitcoin mining tied to mining activity, hashrate as a financial product, and mining and advisory services for companies seeking Bitcoin-denominated revenue. The company’s operations are located in Trinidad, Pecos, Texas, and Silverton, Texas.
Shareholders who want to attend the annual meeting in person must register in advance. The meeting will also be livestreamed on Bitmine’s X account.