In his New Year's letter to shareholders, BitMine Immersion (BMNR) Chairman Tom Lee urged shareholders to support the board's proposed authorized share capital adjustment, which aims to increase the number of authorized shares from 500 million to 50 billion. Lee clarified that this adjustment is not intended to directly dilute existing shareholders, but rather to reserve space for future financing arrangements, potential mergers and acquisitions, and a possible stock split. The deadline for shareholder voting on the proposal is January 14th, and the annual shareholders' meeting is scheduled to be held in Las Vegas on January 15th.
BitMine has proposed raising the maximum number of shares that can be authorized to 50 billion, and the proposal has entered the shareholder voting stage.
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