Bitmine receives shareholder approval to expand financing options, holding 4.2 million ETH and nearly $1 billion in cash

【Crypto World】The crypto asset holding company Bitmine Immersion Technologies has just received a major boost from shareholders—at the annual shareholders’ meeting on January 15, Proposal No. 2 for financing authorization was approved with an 81% high support rate. What does this mean? The company has gained the authority to increase the cap on the number of shares it can issue, leaving room for future financing, mergers and acquisitions, or continued Ethereum accumulation.

Numbers speak: The company currently holds 4.203 million ETH, 193 BTC, and also owns an $22 million stake in Eightco Holdings, with nearly $1 billion in cash sitting in its accounts. This authorization does not mean an immediate large-scale issuance of shares but raises the legal ceiling for the number of shares that can be issued, laying a solid foundation for business expansion and asset allocation.

Regarding the risk of equity dilution, management also has a bottom line—they have clearly stated to shareholders that they will not issue shares below the market net asset value (mNAV). Currently, the company’s stock price is about 0.86 times the mNAV, leaving some room for discounts. This resolution provides flexibility for financing and reassures investors.