New York, January 9, 2026, 19:58 EST — After-hours
- BMNR shares slipped 3.9% on Friday following the announcement of a new CFO and COO
- BitMine revealed a compensation plan featuring stock awards alongside a performance-based bonus
- Investors are eyeing the Jan. 14 proxy deadline as the Jan. 15 annual meeting approaches
BitMine Immersion Technologies, Inc. (BMNR) shares fell 3.9% to close at $30.06 on Friday following the appointment of Young Kim as CFO and COO. Trading volume hit around 37.6 million shares.
The timing is crucial. BitMine’s annual shareholder meeting is just days away, and on the agenda is a proposal to raise its authorized share count — the limit in its charter on how many shares it can issue.
The vote has kept the stock on edge, as investors debate how much leeway the company aims for in equity compensation and possible fundraising, balanced against dilution risks. Crypto prices dipped heading into the weekend, often dragging down shares linked to bitcoin and ether.
BitMine disclosed in an SEC filing that its board appointed Kim effective Jan. 1 and subsequently inked an employment deal pegging his base salary at $500,000. The contract also offers a performance bonus up to $750,000 and long-term incentive awards in restricted stock units (RSUs)—stock grants that vest over time—targeted at $1.75 million annually.
Chairman Thomas “Tom” Lee said Kim would help “scale the business,” while Kim described it as a “pivotal moment” stepping into the dual role, according to the company’s release. Shareholders are set to vote at the Jan. 15 meeting on director elections, an increase in authorized shares, approval of a 2025 incentive plan, and a non-binding vote on a performance-based pay arrangement for the executive chairman. (PR Newswire)
In another proxy filing this week, the company released a transcript of a video message from Lee urging shareholders to cast their votes. He highlighted “proposal number two” and reminded them of the Jan. 14, 11:59 p.m. ET deadline for proxy submissions.
BitMine’s shares have seen wild swings, ranging from $3.20 up to $161 in the last year, market data shows. According to Investing, the company’s market cap stands near $13.3 billion.
But the situation is double-edged. Should shareholders greenlight more authorized shares, dilution concerns will likely come under scrutiny, especially around how fast the company taps into that capacity. On the flip side, a rejection could tie BitMine’s hands on equity compensation and funding options. And a steep crypto price slump would only deepen the strain.
The next key date is the Jan. 14 proxy-vote deadline. The annual meeting on Jan. 15 is set to bring the share-authorization issue—and concerns around governance and compensation—into sharp focus again.
