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. MarketBeat
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. SEC
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. SEC
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. Investing
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. SEC
“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. SEC
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. SEC
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. SEC
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. SEC
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. PR Newswire
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. The Economic Times
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. Investing
One open question is timing around fundamentals: Nasdaq’s earnings page for BMNR showed no earnings announcement date available as of Jan. 1. Nasdaq
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. SEC
