New York, Jan 15, 2026, 11:25 EST — Regular session
- Shares of BitMine dropped roughly 3% following news of a $200 million equity stake in Beast Industries
- Shareholders will vote on a proposal to significantly boost the company’s authorized shares
- Traders are focused on the outcome of the annual meeting and any specifics on the funding of the Beast deal
Shares of BitMine Immersion Technologies dropped about 3% Thursday after the company announced a $200 million equity stake in Beast Industries, a creator-driven firm linked to YouTube star MrBeast. Chairman Thomas “Tom” Lee hailed MrBeast as “the leading content creator of our generation,” while Beast CEO Jeff Housenbold called the investment “a strong validation of our vision.” (PR Newswire)
Timing is crucial. BitMine’s annual meeting takes place in Las Vegas on Thursday, where investors will vote on whether to approve a significantly larger stock issuance.
In a video transcript submitted to the U.S. Securities and Exchange Commission, the company urged shareholders to support the proposal, cautioning that BitMine was “soon going to run out of shares to issue” and would face constraints in pursuing deals.
BitMine dipped to about $31.67 late this morning, slipping nearly 3% from Wednesday’s finish. Trading volume topped 19 million shares.
The broader market showed strength, with the S&P 500 tracking SPY rising roughly 0.6% while the Nasdaq-heavy QQQ gained around 1%. Meanwhile, crypto took a hit—ether fell about 1.4% and bitcoin eased down nearly 0.8%.
BitMine’s announcement on the Beast investment left out specific funding details, only calling it an equity investment. The company said it anticipates the deal will wrap up around Jan. 19.
Beast Industries was founded and is led by Jimmy Donaldson, better known as MrBeast. BitMine presented the stake acquisition as a move to expand its digital-asset strategy, aiming to reach beyond its usual focus on crypto mining.
BitMine is shifting its focus toward becoming an “Ethereum treasury” company — essentially betting that holding ether on its balance sheet and deploying some of it can boost returns if the token appreciates. One strategy the company emphasizes is staking, which involves locking up tokens to support a blockchain network and earn rewards in return.
The share-count vote is the foundation here. “Authorized shares” represent the cap on how many shares a company can issue. Raising that limit can streamline fundraising or stock-based acquisitions—but it also risks dilution if the company issues shares too freely.
Thursday’s tape made clear just how closely BMNR is tracking crypto’s ups and downs. Ether and bitcoin slipped, and that dip seemed to overshadow a headline deal for certain investors.
The downside is clear-cut. Should shareholders nix the share increase, BitMine could lose the agility to fund deals or act swiftly amid crypto market swings. On the flip side, if the plan gets approved, concerns over dilution and deal pricing could spook investors.
Traders are zeroing in on the annual meeting vote set for later Thursday and any subsequent SEC filing that sheds light on capital plans. Another key date is Jan. 19, when BitMine is expected to close the Beast Industries investment.
