Tom Lee Proposes Expansion of BitMine Shares to 50 Billion

Tom Lee, the chairman of BitMine Immersion Technologies (BMNR), is requesting shareholders to approve a significant increase in the company's authorized share limit, aiming to raise it from the current 500 million shares to a substantial 50 billion shares.

Key Takeaways:

Tom Lee is seeking to increase BitMine's authorized shares to 50 billion, which may facilitate future stock splits as the company’s value aligns with Ethereum’s price.
Following the announcement, BitMine shares surged by 14%, indicating support from investors who want to keep the stock financially accessible.
The proposal has sparked a division among investors, with some expressing concerns over potential dilution.

In a YouTube video released on Friday, Lee explained that this proposal is intended as a structural adjustment rather than an immediate issuance of new shares.

“That does not imply we are issuing 50 billion shares,” he clarified, emphasizing that the increase is aimed solely at raising the maximum number of shares the company can authorize.

Tom Lee Proposes Expansion of BitMine Shares to 50 Billion

BitMine Shares Surge 14% Amid Stock Split Discussions Tied to Ether

Following Lee’s announcement, BitMine shares saw an impressive rise of approximately 14%, with prices nearing $30.93 by mid-afternoon trading in New York.

Lee framed his proposal mainly as a preparation for impending stock splits, noting that BitMine’s stock value closely resembles the performance of Ethereum.

“Should ETH rise to $22,000, our stock could climb to around $500,” he warned. In a more optimistic scenario where Bitcoin reaches $1 million and ETH hits $250,000, he speculates that BitMine shares could be valued around $5,000.

“Investors would prefer shares to remain around $25,” he added, stating that excessively high share prices might discourage retail investors, irrespective of underlying fundamentals.

BitMine has recently established itself as the largest digital asset treasury focused on Ethereum, currently holding about 3.41% of the total circulating supply of ETH.

The company announced last week that it has added an additional 44,463 ETH to its reserves, bringing its total to over 4.11 million ether.

While BitMine still engages in certain Bitcoin-related activities, its core strategy shifted in 2025 toward accumulating and staking ETH to optimize yield generation.

Lee indicated that if ether were to reach $250,000, BitMine would likely need to conduct a 100-for-1 stock split to keep the share price around $25. This scenario necessitates a larger authorized share count than the current limit allows. “We’re attempting to get ahead of that," he mentioned.

BitMine's Share Expansion Proposal Sparks Concern Over Dilution

Not all investors share the same enthusiasm. The reaction on social media has revealed mixed feelings, with some critics arguing that increasing the authorized share limit could lead to potential dilution of existing shares.

Supporters, however, argue that there is a fundamental difference between authorized shares and issued shares. They believe the proposal merely provides management the flexibility needed as the company's cryptocurrency valuation evolves.

Shareholders have until January 14 to cast their votes on this proposal.

As mentioned previously, BitMine plans to activate its Made in America Validator Network in early 2026, aiming to generate staking yields from a substantial $12 billion ETH reserve.

Last week, the company confirmed its total Ether holdings at 4,110,525, a stash they value at approximately $12 billion, placing it among the largest publicly disclosed Ethereum treasuries and one of the most significant crypto balance sheets in the market.