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Bitmine's Chairman Explains the Need for Increased Authorized Shares

Bitmine Immersion Technologies, Inc. (NASDAQ: BMNR) is putting forth a significant proposal to its shareholders for an increase in the number of authorized shares. This proposal highlights crucial elements that shareholders must consider prior to the upcoming vote, scheduled for January 14, 2026. According to Tom Lee, the Chairman of the Board, this change is vital for the company's strategic future in the marketplace.

Background and Voting Process

On January 15, 2026, Bitmine is due to hold its annual meeting at Wynn Las Vegas, where shareholders will have the opportunity to cast their votes on four key proposals. The deadline for casting votes is 11:59 PM ET on January 14, 2026. The company encourages all shareholders to thoroughly read Lee’s message, which outlines the rationale behind the proposal to increase the authorized shares from 500 million to 50 billion. The message is available on Bitmine's official website.

Reasons for Increasing Authorized Shares

Tom Lee details three primary reasons that justify the request for increasing the amount of authorized shares:
1. Capital Market Activities: This increase will empower Bitmine to execute capital market activities, which include market offerings, convertible bonds, and options.
2. Strategic Flexibility: It allows the company the agility to pursue opportunistic acquisitions or mergers, which could be beneficial in a dynamic market environment.
3. Future Stock Splits: Furthermore, it positions Bitmine to conduct future stock splits if necessary to keep share prices accessible to investors.

Performance of Bitmine and ETH

Since the company's decision in July to focus Ethereum (ETH) as its primary treasury asset, there has been a noticeable correlation between Bitmine’s stock price and ETH developments. Bitmine reports a coefficient of 0.015 for the ETH price as it correlates with the company's stock performance. Analysts believe Ethereum is at the forefront of financial innovation, driven by advances in blockchain technology, creating a pivotal moment in the financial industry.

Industry leaders, including Larry Fink, CEO of BlackRock, echo this sentiment, suggesting that tokenization, which largely happens on Ethereum, represents the next wave in global market evolution.

Projected Future Prices

Based on current trends, Bitmine anticipates potential future prices for ETH reflecting significantly high levels:

• - A target of $12,000 per ETH could align with a stock price of $500 for BMNR.
• - A rise to $62,500 could suggest an increase in BMNR stock to $1,500.
• - In extreme scenarios, should BTC reach $1 million, ETH could be valued at $250,000, propelling BMNR to $5,000.

These projections showcase the potential value of BMNR shares when aligned with future ETH prices, thus emphasizing the importance of today’s vote for shareholders.

The Importance of Accessibility

To maintain share prices within an accessible range, Bitmine is keen to implement a stock split, should BMNR stocks soar. To ensure the number of shares can accommodate such splits, increasing the authorized shares is crucial. For example, if BMNR reaches a value of $500, a 201-for-1 split would be necessary. Thus, the approval of increased shares is vital for future growth prospects.

Shareholder Participation

Shareholders of Bitmine are urged to read the chairman's detailed message and prepare to vote before the January 14 deadline. Interested participants are invited to attend the annual meeting in person, and they must register in advance. Live streaming of the event will be available on Bitmine's X Account.

Bitmine positions itself as a versatile player in the cryptocurrency space, focusing on Bitcoin and Ethereum networking while seeking to build crypto assets through mining activities and capital procurement strategies. The company operates in regions with low energy costs, enhancing its operational efficiency.

Through this proposed increase in authorized shares, Bitmine aims not just for growth but for a dynamic evolution within the cryptocurrency market, vitally aligning its corporate strategy with the advancements in the financial landscape driven by Ethereum.