Catenaa, Wednesday, January 07, 2026- BitMine Immersion Technologies shares rose 14 percent Friday after Chairman Tom Lee asked shareholders to approve a sharp increase in the company’s authorized share count.

Lee is seeking approval to lift BitMine’s authorized shares to 50 billion from 500 million, a move he said would support future capital activity and possible acquisitions.

The proposal also targets share price management as BitMine’s stock closely tracks movements in ether, the Ethereum network’s native token.

Lee said rising ether prices could push BitMine shares beyond levels comfortable for many retail investors without stock splits.

He noted that sharp increases in ether prices could drive BitMine’s shares into the hundreds or higher, limiting market participation.

BitMine shares traded at $30.93 as of midafternoon Friday, reflecting investor support for the plan.

The company is listed on Nasdaq under the ticker BMNR.

BitMine is the largest Ethereum focused digital asset treasury, holding about 3.41 percent of ether’s circulating supply.

The firm disclosed last week that it added 44,463 ether, lifting total holdings to 4,110,525 tokens.

Those holdings tie the company’s equity value closely to ether price swings. The proposed expansion would also allow flexibility for future stock splits if prices rise sharply.

Shareholders must approve the measure before it can take effect. The deadline to vote on the proposal is January 14.

If approved, the increase would rank among the largest authorized share expansions by a US listed crypto linked firm.