Bitmine wins investor backing to expand share limit

2026-01-20 17:51:59

Source: CryptoNewsNet Original Title: Tom Lee’s Bitmine Immersion wins investor backing to expand share limit Original Link: Bitmine Immersion Technologies (BMNR), the largest corporate holder of ether ETH, secured investor approval to increase the number of authorized shares, giving the company greater flexibility to raise capital.

Proposal 2 at Bitmine’s annual stockholder meeting on Jan. 15 passed with 81% of votes cast in favor.

The proposal does not mean issuing new stock immediately, but instead raises the ceiling on how many shares the company can issue in the future.

BMNR is lower by 8% on Tuesday alongside a sharp decline in the price of ETH to just above $3,000.

Authorized shares set the legal limit on how much stock a company can sell. Increasing that limit opens the door for Bitmine to issue new equity to fund growth, pay for acquisitions, or support its ongoing accumulation of ether.

ETH-6,67%

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