NEW YORK, January 4, 2026, 06:51 ET — Market closed
- BitMine Immersion shares closed up 14.9% on Friday after the company urged holders to back a large increase in authorized shares.
- The proposal would raise the share cap to 50 billion from 500 million, a filing showed.
- Investors are watching the Jan. 14 voting deadline and any follow-on capital-raising plans.
BitMine Immersion Technologies Inc shares closed sharply higher in the last U.S. session after the crypto-focused company stepped up its push for shareholders to approve a sweeping increase in its authorized shares. The stock ended Friday up 14.9% at $31.19. Nasdaq
The vote matters because authorized shares set the maximum number of shares a company is allowed to issue under its charter. Raising that ceiling can give management room for stock sales, stock-based deals or stock splits, but it can also amplify dilution worries if new shares are issued.
BitMine’s voting deadline is January 14, and the annual meeting is set for January 15, putting the proposal on a near-term clock. The company has positioned its stock as closely linked to ether, the world’s second-largest cryptocurrency, making any move that touches share count and trading mechanics a focal point for retail and momentum investors.
In a regulatory filing dated Friday, BitMine said it issued a press release encouraging shareholders to vote “FOR” a charter amendment proposal at the upcoming meeting. Sec
The amendment would lift the number of authorized shares to 50 billion from 500 million, according to the filing materials. Authorized shares are not the same as shares outstanding — a company can raise its authorized share count without immediately issuing stock — but the change would expand the company’s capacity to do so.
Chairman Tom Lee framed the proposal primarily as a way to enable future stock splits, which increase the number of shares while lowering the per-share price. “Bitmine’s stock price follows the price of Ethereum,” Lee said in a transcript filed with the SEC. Sec
Lee also pointed to the need for flexibility around capital markets activity and potential acquisitions, according to the transcript. An at-the-market offering, one tool he cited, is a program that allows a company to sell shares into the market over time rather than in one large deal.
BitMine describes itself as a Bitcoin and Ethereum “network company” focused on accumulating crypto for long-term investment, including through mining and capital-raising proceeds, the press release said. It said its operations are located in “low-cost energy regions” including Trinidad and two Texas sites.
The next leg for the shares may hinge as much on macro risk appetite as on company-specific filings. Philadelphia Fed President Anna Paulson said on Saturday that further U.S. interest-rate cuts could take time as policymakers evaluate the economy, according to Reuters — commentary that can sway high-volatility corners of the market, including crypto-linked equities. Reuters
Before the next session, investors will be looking to the week’s U.S. data calendar for clues on rates and risk sentiment. The Labor Department is scheduled to release the December employment report on January 9 and the December CPI report on January 13. Bls
Company-specific, the key date remains the January 14 voting deadline ahead of the January 15 annual meeting. Traders will also be alert for any new disclosures about capital-raising plans or an eventual stock split once the vote outcome is known. The Fed’s next policy meeting is scheduled for January 27–28. Federalreserve
