BitMine vote could allow major share expansion for its Ethereum treasury

Beincrypto reports a shareholder vote at BitMine Immersion Technologies could decide whether the firm can expand its authorized shares and continue building its public Ethereum treasury before a midnight deadline on January 14, 2026. As of January 11 the company holds 4.07 million ETH, about 3.36% of the total supply, with 1.256 million ETH already staked, and has added tens of thousands more in recent weeks while targeting 5% of supply.

Proposal 2 would raise authorized shares from 500 million to 50 billion; management led by Tom Lee says the "one-and-done" expansion is needed to avoid a growth ceiling and has emphasized the company has never issued shares below 1.0x modified net asset value (mNAV). Analysts warn that failure to secure the required 50.1% majority could freeze growth, limit purchases to the firm’s roughly $988 million cash pile, and lead to reconvened meetings and months of uncertainty.

The vote is followed by BitMine’s annual meeting at the Wynn Las Vegas on January 15, when the company plans updates on its Made in America Validator Network (MAVAN) and potential post-vote strategies such as open-market ETH purchases; the US Senate Banking Committee is also slated to mark up the Digital Asset Market Clarity Act on January 15.

Key Topics

Crypto, Bitmine, Tom Lee, Ethereum, Mavan, Clarity Act