New York, Jan 9, 2026, 09:12 EST — Premarket
- BMNR fell about 1% in premarket trading after a 3% rise in the prior session
- Bitmine named Young Kim to a combined CFO and COO role and added him to its board
- Investors are bracing for a shareholder vote on a sharp increase in authorized shares
Bitmine Immersion Technologies’ shares fell about 1% to $30.97 in premarket trading on Friday, after ending Thursday up 3% at $31.28. The NYSE American-listed digital-asset company said it appointed Young Kim as chief financial officer and chief operating officer, effective immediately. (Webull)
The timing matters. Bitmine’s stock has behaved less like a steady operating business and more like a leveraged bet on its crypto holdings, with governance and funding questions now front and center.
Kim steps in as shareholders weigh how fast Bitmine can grow its digital-asset “treasury” — cash and crypto held on the balance sheet — without blowing out dilution or taking on risky financing.
A proxy filing shows Bitmine is asking investors to approve a charter amendment that would lift the number of authorized common shares — the amount it can legally issue — to 50 billion from 500 million. Chairman Tom Lee told shareholders it had been a “historic year” in its shift into an Ethereum and Bitcoin “Treasury Company,” as the vote heads to the company’s Jan. 15 annual meeting in Las Vegas.
Bitmine said Kim, an investment executive with stints at Axiom Investors and Columbia Threadneedle Investments, will report to Lee. Lee said Kim brings “skills” in “finance, venture capital and engineering,” while Kim called it a “pivotal moment” as Bitmine pursues a goal of holding 5% of ether supply; the company said it currently owns 3.43% of the token supply. (PR Newswire)
Crypto-linked stocks were mixed before the bell. Bitcoin rose about 0.5% to around $90,228, while ether slipped about 0.3% to roughly $3,079; Strategy climbed about 3%, Marathon Digital rose about 4%, and Riot Platforms edged lower.
Bitmine operates as a blockchain technology company and has pitched an “ETH treasury” strategy alongside mining-related activities, according to its company profile. (Yahoo Finance)
But the same levers that can fuel a fast buildout can backfire. A larger authorized share count can make future stock sales and incentive grants easier — and that can dilute holders — while a sharp move in ether can quickly change the value of any crypto held on the balance sheet.
The next hard dates are close: voting and the annual meeting next week, with any change in the charter or financing approach likely to drive the next leg in the stock. Wall Street Journal market data shows the company is expected to report earnings on Jan. 28. (Wsj)
