NEW YORK, January 4, 2026, 18:16 ET — Market closed
- BitMine shares rose nearly 15% in the last U.S. session after it urged holders to back a charter change to expand authorized shares.
- The company set a Jan. 14 voting deadline ahead of its Jan. 15 annual meeting in Las Vegas, a release showed.
- Traders head into Monday watching ether’s weekend move and a packed U.S. data slate.
BitMine Immersion Technologies’ shares surged 14.9% on Friday, closing at $31.19, after the company stepped up its push for shareholders to approve a sharp increase in the number of shares it is allowed to issue. About 58 million shares changed hands, with the stock ranging from $27.48 to $31.50.
The push lands with the annual shareholder vote nearing its deadline. BitMine set a Jan. 14 cutoff for voting and plans to hold its annual meeting on Jan. 15 at the Wynn Las Vegas, the company said in a release filed with U.S. regulators. 1
The outcome matters because “authorized shares” is the legal ceiling on how much stock a company can issue. Raising that ceiling does not dilute holders by itself, but it can make it easier to sell stock, do stock splits, or use shares for deals — actions that can change a company’s valuation and per-share ownership.
In a separate filing on Friday, BitMine said it published an investor presentation and a video message from board chairman Tom Lee to make its case for the charter amendment proposal ahead of the annual meeting. 2
Lee told shareholders the company wants to lift authorized shares to 50 billion from 500 million, arguing it needs flexibility for capital markets activity such as at-the-market offerings — selling stock into the market over time — as well as convertibles and warrants. He also pointed to potential acquisitions and the ability to split the stock, adding: “Bitmine’s stock price follows the price of Ethereum.” 3
Crypto moves remain a near-term swing factor. Ether was last up about 0.4% at $3,137 on Sunday, while bitcoin rose about 0.8% to $91,273; both trade around the clock and can set the tone for crypto-linked equities when U.S. markets reopen.
After Friday’s jump, traders will watch whether BMNR can hold the $30 level when the regular session resumes on Monday, after pushing to an intraday high just above $31.50 in the last session. Thin liquidity outside regular hours can amplify price swings in smaller, fast-moving names.
But the proposal carries an obvious risk: shareholders may view a 50 billion authorized-share limit as a blank check for dilution, even if the company frames it as a tool for splits and financing flexibility. A pullback in ether could also pressure the stock, given the company’s own emphasis on the link between BMNR and the token.
The calendar is busy. U.S. ISM manufacturing PMI is due Monday at 10:00 a.m. ET, and the Labor Department’s December employment report is scheduled for Friday; both can jolt risk appetite that often spills into crypto-related shares. 4
For BitMine, the next specific catalyst is the shareholder vote itself, due by 11:59 p.m. ET on Jan. 14 ahead of the Jan. 15 annual meeting.
