NEW YORK, January 2, 2026, 18:29 ET — After-hours
- Bitmine Immersion shares rose about 15% after the close, extending a strong session.
- The company filed new materials urging shareholders to approve a major increase in authorized shares ahead of a mid-January vote.
- Bitcoin and ether were both higher, lifting several crypto-linked stocks.
Bitmine Immersion Technologies’ shares were up 14.9% at $31.19 in after-hours trading on Friday, after a volatile session that saw the stock swing between $27.48 and $31.50.
The move followed a new chairman’s message and related materials urging shareholders to approve a charter amendment that would raise the company’s authorized share count — the maximum number of shares it is allowed to issue under its corporate charter. PR Newswire
The timing matters because the vote is approaching, and the outcome could shape how Bitmine funds its crypto treasury strategy and other corporate actions in 2026, including potential stock splits and capital raising.
An increase in authorized shares does not, by itself, issue new stock. It can, however, give a company more room to sell shares later — a sensitive topic for investors because share sales can dilute existing holders.
In an SEC filing on Friday, Bitmine said it published a presentation by Chairman Tom Lee and released a video of that presentation along with a transcript, alongside related social media posts tied to the upcoming shareholder meeting. SEC
In the transcript, Lee said Bitmine is seeking to lift authorized shares to 50 billion from 500 million and framed the request as primarily about flexibility for future stock splits. “That doesn’t mean we’re issuing 50 billion shares,” Lee said. SEC
The company said the higher authorization would also support capital markets activity — including at-the-market offerings, convertibles and warrants — and provide flexibility for potential mergers or acquisitions. SEC
An at-the-market offering is a program that lets a company sell shares into the open market over time, typically at prevailing prices, rather than in a single, marketed deal.
Lee also argued Bitmine’s stock price has tended to track ether and that a sharply higher token price could push the company toward a split to keep the share price “accessible” to investors — a move that increases shares outstanding and can require additional authorized shares. SEC
Crypto prices were firmer on Friday. Bitcoin was up about 1.5% at $89,922, while ether was up about 4.1% at $3,124.46.
The broader strength spilled into other crypto-linked equities, with Marathon Digital up about 10% and Riot Platforms up roughly 12% in late trading.
For Bitmine, investors will be watching whether shareholders approve the charter amendment, and how quickly the company moves to use any added flexibility — particularly for financing and any corporate actions such as a split.
Trading in BMNR has been active, with more than 58 million shares changing hands on Friday, according to market data.
