Wall Street legend Thomas "Tom" Lee released a video on Jan. 2 in which he asked the shareholders of BitMine Immersion Technologies (NYSE: BMNR) to approve a 100-fold increase in authorized shares ahead of the Jan. 14 deadline. The company will increase the number of authorized shares from 500 million to 50 billion if the shareholders approve the proposal. Related: Crypto analyst warns of 50% drop for Ethereum in 'worst-case scenario' Understanding Bitmine's business model Bitmine Immersion is a popula ...

Core Insights - Upexi Inc. reported a 183% year-on-year profit surge, primarily attributed to Solana (SOL) staking income, which has become a significant growth driver for the company [1][4][7] Financial Performance - Gross profit reached $8.3 million, reflecting a 183% increase compared to the same quarter last year, largely due to digital asset revenue of $6.1 million from SOL staking [7] - Net income for the quarter was $66.7 million, a significant turnaround from a net loss of $1.6 million in the same quarter of the previous year [7] - Total revenue was reported at $9.2 million, up from $4.4 million in the quarter ended September 30, 2024 [7] Market Position - Upexi's digital asset division is now the company's largest growth engine, with expectations to improve yield generation further [4] - The company is trading at a premium to net asset value (NAV), indicating a strong market position despite broader concerns about the crypto treasury model [4][5] - Upexi's average cost basis for acquiring SOL tokens is approximately $154-$157, which is lower than that of competing Solana treasury companies, who entered the market at around $220-$230 [8]

Core Insights - CleanCore Solutions, Inc. has announced that its Dogecoin Treasury now holds over 710 million DOGE, with more than $20 million in unrealized gains since the program's launch on September 5, 2025 [1] - The treasury initiative, in partnership with the House of Doge, aims to reach a milestone of 1 billion DOGE [1] Accumulation Strategy - CEO Clayton Adams confirmed that the company is pursuing a phased accumulation strategy and maintains sufficient liquidity for continued Dogecoin purchases [2] - The company acquired 500 million DOGE a month ago and added 210 million DOGE to its treasury in less than a month [2] Treasury Governance - Insiders and affiliates of the House of Doge hold a significant portion of the treasury's shares, most of which are restricted or locked up as the firm works with the SEC for registration [3] - The treasury program aims to position Dogecoin as both a transactional asset and a long-term reserve, with new utility initiatives underway to unlock real-world use cases [4] Operational Principles - CleanCore emphasizes professional treasury governance, transparency, and resilience as key operational principles [5] - The firm monitors short interest in its stock and highlights the importance of its alliance with Bitstamp by Robinhood for safeguarding token holdings [5] Market Reactions - Despite the positive update on Dogecoin accumulation, CleanCore's stock price fell 7% following the announcement, marking a 32% decline over the past month [6] - The stock surged earlier in September on news of the treasury plan but has since corrected by more than 50%, with traditional investors expressing skepticism about the shift to a crypto treasury model [6] Dogecoin Market Performance - Dogecoin has experienced a strong week with gains of around 10%, driven by market trends and the introduction of new Dogecoin treasuries by companies like CleanCore [7]