BitMine Chairman Proposes To Increase Company’s Authorized Shares To 50 Billion – Details
Tom Lee, chairman of Ethereum Treasury firm Bitmine, asked shareholders to approve a proposal to increase the company’s authorized shares to 50 billion. This “dramatic” increase in the number of shares, currently 50 million, is intended to keep BMNR stock attractive to retail investors.
Why BitMine Authorized Shares Need to Increase: Tom Lee
The latest In a YouTube message, Lee urged shareholders to support it movement to increase the value of BitMine shares significantly. According to the chairman, this increase will be very important to address the possible need for future share splits as the price of BMNR tracks the price of Ethereum.
Using the Ethereum/Bitcoin ratio, Lee posted various possible future estimates for the price of Ether. The BitMine Chairman’s model shows that the price of ETH can reach $ 250,000 if Bitcoin rises to $ 1,000,000, especially since the issuance of tokens continues to attract institutional attention to the Ethereum blockchain.
In the event that Ethereum reaches the $250,000 level, Lee’s model puts BitMine stock at an implied price of around $5,000 per share, a price considered too high by many retail investors. “Not everyone wants a stock price at $500, $1,500, or $5,000. Most people want stocks to stay around $25,” Lee said in a YouTube message.
This argument is based on the problem of unit bias, a psychological concept in which consumers are more inclined to buy a whole unit of a good instead of a fractional amount. Because of this conceptual bias, investors are more enticed by more “cheap” stock units than by stock units with better fundamental value or ROI (return on investment) potential.
Source: BitMine/YouTube
In addition, Lee explained that if ETH reaches $ 250,000, BitMine will have to implement a stock split of 100: 1 to maintain the price of $ 25. The chairman said that this stock split will create 43 billion shares remaining.
Lee commented:
The current shares outstanding are 426 million, and we are trying to make the authorized number of shares 50 billion. That doesn’t mean we’re issuing 50 billion shares. That’s what we want the maximum number of shares to be.
BitMine’s chairman also highlighted capital market activities and opportunistic acquisitions as other reasons why the Ethereum treasury company needs to increase its authorized share amount to 50 billion. The deadline for shareholders to vote on the proposal is January 14, 2026.
After shifting its focus from Bitcoin mining to Ethereum treasury in 2025, BitMine has become the largest shareholder of Ether. BMNR stock closed the day at $31.19, reflecting a nearly 15% gain on Friday.
Ethereum price at a glance
As of this writing, the price of ETH stands at around $3,110, representing a jump of more than 3% in the last 24 hours.
The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
Featured image from Ilya S. Savenok/Getty Images, chart from TradingView
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