Tom Lee is urging BitMine shareholders to approve a dramatic enlargement of the corporate’s approved share rely. This may make future dilution simpler as BitMine doubles down on Ethereum as a core treasury asset.
In a New 12 months message, Lee requested traders to again a proposal to boost the approved share restrict from 500 million to 50 billion shares. The vote closes on January 14, forward of BitMine’s annual assembly on January 15 in Las Vegas.
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BitMine’s Share Dilution Debate Tied to Ethereum
Tom Lee stated the rise doesn’t imply BitMine will problem all these shares instantly.
As a substitute, he stated it will give the corporate flexibility to help future capital wants and allow inventory splits if the share worth rises considerably.
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The annual shareholder vote deadline is Jan 14, 2026 at 11:59pm ET
– many asking why we need to improve approved shares from 500mm to 50 billion (proposal 2)
No, it’s not as a result of $BMNR is about to “dilute” shareholders
Hyperlink🔗 https://t.co/1WJz2TG9VD
Hold studying 📖… pic.twitter.com/oDOwRQ9iZj
— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) January 2, 2026
BitMine pivoted final yr to make ETH its major treasury asset. Since then, the corporate has steadily elevated its ether holdings, positioning itself much less like a standard mining agency and extra like a leveraged Ethereum stability sheet.
Prior to now month alone, the corporate purchased over $1 billion in Ethereum.
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Lee instructed shareholders that BitMine’s inventory has begun monitoring ETH extra carefully than its working metrics.
In his view, if Ethereum’s worth rises sufficient over time, issuing new shares to purchase extra ETH might nonetheless profit shareholders, even when their possession share falls.
If the proposal passes earlier than the January 15 shareholder assembly in Las Vegas, BitMine would have a a lot bigger pool of shares to problem. That might be used for:
- Elevating capital, together with probably to purchase extra Ethereum
- Acquisitions or strategic offers
- Inventory splits to maintain the share worth “accessible” as Lee outlined
Lee emphasised to traders that approving a bigger authorization doesn’t routinely create dilution. Precise dilution would happen provided that and when new shares are issued.
Additionally, he emphasised inventory splits as a key purpose for the proposal. If BitMine’s share worth rises alongside ETH, splits might be wanted to maintain shares accessible to retail traders. A better approved share rely makes these splits simpler to execute.
Nonetheless, the proposal places shareholders at a crossroads. Approving it doesn’t dilute stakes at this time, nevertheless it lowers the barrier for future dilution tied on to Ethereum publicity.
