The proposal is framed as a structural move to preserve flexibility, not an immediate plan to issue new shares.
The company’s leadership, led by Chairman Tom Lee, has explained that this strategic move is designed to enable future stock splits, a necessity they believe will arise as the firm’s share price climbs in tandem with its primary treasury asset: Ethereum .
investor questions regarding Proposal 2, which seeks to raise BitMine’s authorized common stock from 500 million to 50 billion shares, with a shareholder vote on the measure due by January 14. The crypto entrepreneur was quick to dismiss concerns that the proposal signals immediate shareholder dilution. Instead, he outlined three strategic reasons for the change, which are facilitating selective capital raises, enabling opportunistic mergers, and accommodating future share splits. “The last point is key,” Lee wrote. “Any time a company splits shares, total authorized needs to be high enough to accommodate.” This plan is intrinsically linked to BitMine’s mid-2025 pivot to holding Ethereum as its main treasury asset. According to Lee, the company’s stock price now closely tracks the price of ETH.on 32,938 ETH on December 31, 2025, bringing its total holdings to about 4.07 million ETH, valued at approximately $12 billion.Lee’s vision for BitMine is predicated on a bullish long-term outlook for Ethereum itself. He cited institutional belief in tokenization, echoing statements from leaders like BlackRock’s Larry Fink, and argued that most of this activity will occur on the Ethereum network.He projects the world’s second-largest cryptocurrency by market cap could eventually hit prices of $22,000, $62,000, or even $250,000 in a scenario where Bitcoin reaches $1 million. Using BitMine’s established price correlation with ETH, Lee provided illustrative calculations for where the company’s stock could trade. These scenarios suggest share prices of $500, $1,500, or $5,000. To keep shares accessible to retail investors, the 56-year-old stated the company would want to split its stock to reset the price near $25. Such splits would drastically increase the number of shares outstanding, necessitating the proposed boost in authorized shares.The asset is currently trading slightly above $3,000, showing a 3.5% increase in the last 24 hours but remaining 39% below its all-time high set in August 2025. Nonetheless, Lee and BitMine are positioning for a future they believe will be defined by Ethereum’s role in finance, building their treasury through the downturn in preparation for an anticipated rebound.Wayne is a dynamic part-time trader with an impressive eye for detail. His passion for understanding financial systems has led to an intriguing interest in blockchain technology, and he enjoys exploring and writing about cryptocurrencies. Possessing a keen intellect and diligent work ethic, he stays up-to-date on the latest industry trends, regularly sharing his insights in articles and professional presentations.BONK Skyrockets by 30% Daily, Bitcoin Taps 3-Week High Above $91K: Weekend WatchCrypto Exploits Decline Sharply, With Only $76M Stolen in December 2025
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