Tom Lee Pushes for Big Share Increase as BitMine Closely Tracks Ethereum Price

Tom Lee is urging BitMine shareholders to approve a dramatic expansion of the company’s authorized share count. This would make future dilution easier as BitMine doubles down on Ethereum as a core treasury asset.

In a New Year message, Lee asked investors to back a proposal to raise the authorized share limit from 500 million to 50 billion shares. The vote closes on January 14, ahead of BitMine’s annual meeting on January 15 in Las Vegas. 

Tom Lee said the increase does not mean BitMine will issue all those shares immediately. 

Instead, he said it would give the company flexibility to support future capital needs and enable stock splits if the share price rises significantly.