Bitmine secures shareholder approval to increase authorized shares as ETH treasury expands
Bitmine shareholders approved increasing authorized shares to support its long-term Ethereum accumulation strategy.Summary
Bitmine Immersion Technologies received 81% shareholder approval for a proposal to increase its authorized share count, providing flexibility for its ongoing Ethereum accumulation strategy. Chairman Tom Lee stated this outcome signals investor support for their capital strategy, confirming the company will not issue shares below its modified net asset value (mNAV). As of January 19, BitMine reported total holdings of approximately $14.5 billion, including about 4.2 million Ether (nearly 3.48% of total ETH supply), 193 Bitcoin, and $979 million in cash. The company recently acquired 35,268 ETH and has 1.84 million ETH staked, valued near $5.9 billion, while preparing to launch its Made in America Validator Network for staking operations later this year.
(Source：Crypto Briefing)