New York, Jan 9, 2026, 15:09 EST — Regular session
- BitMine shares fell about 2.4% in afternoon trading, tracking weakness in crypto-linked names
- Company named Young Kim as CFO and COO and added him to the board
- Investors are watching a Jan. 14 proxy deadline ahead of a Jan. 15 annual meeting vote on authorized shares
Shares of BitMine Immersion Technologies Inc were down 2.4% at $30.52 in afternoon trading on Friday, after swinging between $29.62 and $31.68. Ether and bitcoin were also lower on the day, while crypto-exposed stocks such as Strategy and Marathon Digital slipped.
The company earlier announced Young Kim was appointed chief financial officer and chief operating officer and added to the board, effective immediately, reporting to chairman Thomas “Tom” Lee. Lee said Kim would help “execute our roadmap,” while Kim called it a “pivotal moment” for the firm; the company also said it owns about 3.43% of the ether token supply as it pursues a larger Ethereum treasury strategy. (Investing News Network (INN))
Why it matters now: shareholders are days away from voting on a proposed charter change to raise the number of authorized common shares — the legal cap on how many shares a company can issue. Proxy voting by phone and internet closes at 11:59 p.m. ET on Jan. 14, ahead of the Jan. 15 annual meeting in Las Vegas. (SEC)
Traders have been treating BitMine as a high-beta proxy for the price of ether, with corporate actions and balance-sheet moves often taking a back seat to the tape in digital assets.
Still, the vote on authorized shares sits in the foreground. If approved, it could give BitMine more flexibility to issue stock for fundraising or compensation, even as existing holders worry about dilution.
The risk case is straightforward: a sharper leg down in crypto prices, or a contentious vote that spooks investors, can hit a stock that already moves fast and trades on sentiment.
Next up is the Jan. 14 proxy deadline and the Jan. 15 meeting outcome — and any signal from management on whether more capital raises, crypto purchases, or changes to the treasury strategy are coming next.
