NEW YORK, January 3, 2026, 11:15 ET — Market closed
- BitMine shares closed up 14.9% Friday at $31.19 after new SEC-filed stockholder materials
- Company is seeking approval to lift authorized shares to 50 billion from 500 million ahead of a Jan. 15 meeting
- Traders now focus on the Jan. 14 voting deadline, crypto prices and next week’s U.S. data slate
BitMine Immersion Technologies, Inc. shares jumped 14.9% on Friday, ending at $31.19, after the crypto-focused company stepped up its push for shareholders to approve a sharp increase in the number of shares it is authorized to issue. 1
The vote matters because “authorized shares” set the legal ceiling on how much stock a company can issue under its charter — a key constraint for fundraising, acquisitions and stock splits. BitMine is asking investors to approve a charter amendment that would raise that limit to 50 billion shares from 500 million. 2
For a stock that has traded with high volatility, the outcome could quickly change the company’s room to maneuver in capital markets. It also lands as BitMine highlights an Ethereum-focused treasury strategy, where it holds crypto assets on its balance sheet. 2
The stock was little changed in after-hours trading, last indicated around $31.45, after ranging between $27.46 and $31.26 in the regular session, according to Investing.com data. 3
In a Form 8-K filing dated Jan. 2, BitMine said it published an investor presentation, released a video of that presentation with a transcript, and posted related communications on social media tied to the charter amendment proposal ahead of its annual stockholder meeting. 4
“The most important reason we need to increase the authorized shares is we have to accommodate share splits,” Chairman Tom Lee said, according to a transcript included with the filing. 5
In the same materials, Lee stressed the authorization request does not mean the company plans to issue 50 billion shares immediately; it expands the maximum that could be issued, including after any future splits. 5
BitMine said the proposal would give it flexibility for capital-markets activity — including at-the-market offerings, where companies sell stock into the market in small amounts over time — as well as potential mergers and acquisitions. It also cited the need for headroom to execute stock splits if the share price rises. 2
The company said it has seen its share price closely track ether since it pivoted in July to make Ethereum its primary treasury asset. Ether was last around $3,101, while bitcoin hovered near $89,956, according to market data. 2
Crypto-linked equities also rallied on Friday. Marathon Digital gained about 10%, Riot Platforms rose nearly 12% and CleanSpark climbed about 14%, according to market data.
Before next session, investors will focus on the shareholder-vote clock. BitMine set a Jan. 14, 11:59 p.m. ET deadline for votes ahead of its Jan. 15 annual meeting in Las Vegas, according to a company release. 6
Macro data will be another driver for risk appetite in high-beta names tied to crypto prices. A Reuters “week ahead” report said the U.S. employment report due Jan. 9 and the consumer price index on Jan. 13 are among the key releases as 2026 gets underway. 7
Technically, the stock’s first near-term test is Friday’s $31.26 intraday high and the $31.45 area after hours; a clean break above that range would leave round-number levels in focus for momentum traders. Support sits near $27.46 — Friday’s low — and around the prior close near $27.15. 3
One open question is timing around fundamentals: Nasdaq’s earnings page for BMNR showed no earnings announcement date available as of Jan. 1. 8
For longer-horizon investors, the bigger issue is what BitMine does with added authorization if shareholders approve it — whether it prioritizes a split, raises capital, or pursues deals — and how tightly the stock continues to trade with ether’s moves. 2
