Wall Street legend asks shareholders to approve huge equity expansion

Core Viewpoint - BitMine Immersion Technologies is seeking shareholder approval to increase its authorized shares from 500 million to 50 billion, with a deadline of January 14, 2026, to support its capital-raising and expansion efforts [1][6]. Group 1: Business Model and Strategy - BitMine Immersion has transitioned from Bitcoin mining to establishing an Ethereum treasury, aiming to acquire 5% of the total ETH supply, similar to Michael Saylor's strategy for Bitcoin [3][4]. - As of December 28, 2025, BitMine holds 4,110,525 ETH, representing 3.41% of the total ETH supply, making it the largest corporate Ethereum treasury globally [4]. Group 2: Shareholder Proposal and Rationale - Tom Lee, the chairman of BitMine, argues that increasing the share count will not dilute existing share value and is essential for future capital market activities, including potential acquisitions and share splits [5][8]. - The proposed increase in authorized shares is intended to facilitate various financial strategies, such as at-the-money transactions and convertible instruments [6][8].