New York, January 21, 2026, 11:31 EST — Regular session
- BitMine shares edged down about 0.7% late this morning; ether slid close to 2%
- On Jan. 19, the company disclosed it holds $14.5 billion in crypto and cash.
- Shareholders approved raising the authorized shares from 500 million to 50 billion
BitMine Immersion Technologies shares slipped about 0.7% to $28.05 on Wednesday after the company revealed a sharp increase in its authorized share count along with an update on its Ethereum assets.
The vote matters because BitMine is pitching itself as an “Ethereum treasury” stock—a public vehicle holding a large stash of ether (ETH), the cryptocurrency powering the Ethereum blockchain. Boosting authorized shares lets the company issue more equity, a typical move to raise capital.
The timing is rough. Ether slid about 2% in the session and now sits roughly 8% under the $3,211 reference price BitMine cited in its latest holdings update, amplifying the daily swings on the company’s crypto-backed balance sheet.
As of 5 p.m. ET on Jan. 19, BitMine reported holding 4,203,036 ETH, 193 bitcoin, and $979 million in cash. The company also flagged a $22 million position in Eightco Holdings, labeling it one of its “moonshots.” Altogether, BitMine valued its crypto and cash holdings at $14.5 billion.
Per an 8-K filing, stockholders have approved a charter amendment increasing authorized common stock from 500 million to 50 billion shares. The vote count showed 222,226,997 in favor and 49,445,035 opposed. The amendment became effective in Delaware at noon ET on Jan. 16, the filing stated. 1
During that meeting, shareholders re-elected eight directors and gave the green light to the company’s 2025 omnibus incentive plan. They also held a non-binding vote on a special performance-based compensation package for the executive chairman.
BitMine highlighted its shift into staking, locking up ether to validate Ethereum transactions and rake in rewards. By Jan. 19, the firm had staked 1,838,003 tokens. It’s working with three staking providers and aims to roll out its own platform, MAVAN, in Q1 2026.
Chairman Thomas “Tom” Lee disclosed that BitMine added 35,268 ETH to its holdings in the past week. He pointed to the climbing ether-to-bitcoin price ratio as a strong indicator of growing institutional demand for Ethereum-based finance applications. 2
The company announced a $200 million stake in privately held Beast Industries, made on Jan. 15, and expects to finalize the deal this week. It clarified that this investment is not counted within the current “moonshots” total.
The expanded share authorization cuts both ways. It provides BitMine with flexibility, yet also risks dilution if the company rushes to issue additional shares. On top of that, a decline in ether prices or reduced staking rewards could sharply erode the value of its holdings.
Traders are zeroing in on whether BitMine will seal the Beast Industries deal this week. Updates on MAVAN’s timeline are also in demand, along with any word on fresh equity issuance or crypto purchases after the charter amendment.
