The proposal is framed as a structural transfer to protect flexibility, not a direct plan to problem new shares.
BitMine Immersion Applied sciences is asking shareholders to approve a large enhance in its licensed shares.
The corporate’s management, led by Chairman Tom Lee, has defined that this strategic transfer is designed to allow future inventory splits, a necessity they consider will come up because the agency’s share worth climbs in tandem with its major treasury asset: Ethereum (ETH).
Shareholder Vote Focuses on Future Flexibility
In a sequence of posts on January 2, Lee instantly addressed investor questions relating to Proposal 2, which seeks to lift BitMine’s licensed widespread inventory from 500 million to 50 billion shares, with a shareholder vote on the measure due by January 14.
The crypto entrepreneur was fast to dismiss considerations that the proposal indicators instant shareholder dilution. As an alternative, he outlined three strategic causes for the change, that are facilitating selective capital raises, enabling opportunistic mergers, and accommodating future share splits.
“The final level is essential,” Lee wrote. “Any time an organization splits shares, whole licensed must be excessive sufficient to accommodate.”
This plan is intrinsically linked to BitMine’s mid-2025 pivot to holding Ethereum as its major treasury asset. In keeping with Lee, the corporate’s inventory worth now intently tracks the value of ETH.
It has aggressively constructed its place, with its newest buy of the asset being a $97.6 million splurge on 32,938 ETH on December 31, 2025, bringing its whole holdings to about 4.07 million ETH, valued at roughly $12 billion.
Ethereum’s Potential and the Path to Splits
Lee’s imaginative and prescient for BitMine is based on a bullish long-term outlook for Ethereum itself. He cited institutional perception in tokenization, echoing statements from leaders like BlackRock’s Larry Fink, and argued that the majority of this exercise will happen on the Ethereum community.
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He initiatives the world’s second-largest cryptocurrency by market cap might finally hit costs of $22,000, $62,000, and even $250,000 in a situation the place Bitcoin reaches $1 million.
Utilizing BitMine’s established worth correlation with ETH, Lee supplied illustrative calculations for the place the corporate’s inventory might commerce. These eventualities counsel share costs of $500, $1,500, or $5,000.
To maintain shares accessible to retail traders, the 56-year-old said the corporate would need to cut up its inventory to reset the value close to $25. Such splits would drastically enhance the variety of shares excellent, necessitating the proposed enhance in licensed shares.
This forward-looking technique is coming at a time when Ethereum is weathering a troublesome interval. Information exhibits 2025 was ETH’s worst 12 months since 2018, with 9 month-to-month losses contributing to a 12% annual decline.
The asset is at present buying and selling barely above $3,000, displaying a 3.5% enhance within the final 24 hours however remaining 39% beneath its all-time excessive set in August 2025. However, Lee and BitMine are positioning for a future they consider can be outlined by Ethereum’s function in finance, constructing their treasury by the downturn in preparation for an anticipated rebound.
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