Tom Lee posted a message supporting BitMine's increase in licensed share capital, and BMNR closed up 14.88%.

[Tom Lee Supports BitMine's Increase in Authorized Share Capital; BMNR Rises 14.88%] According to Mars Finance, on January 3rd, Tom Lee, Chairman of Ethereum treasury company BitMine, posted on social media that BitMine needs to increase its authorized share capital for three main reasons: • To provide room for optional follow-on offerings (ATMs) and fundraising • To facilitate seizing strategic transaction opportunities (mergers and acquisitions, etc.) • To accommodate future stock splits (most critically) Whenever a company conducts a stock split, the total authorized share capital must be sufficient to meet operational needs. With Ethereum being validated as the future of finance, he believes the target exchange rate for ETH/BTC will reach 0.25. Assuming ETH rises to $250,000 in the future, BMNR's share price will reach $5,000. To enable the public to "easily participate" in stock investment, the company needs to reset the share price to around $25 through a stock split. These stock splits will increase the total outstanding shares. Therefore, BitMine can only implement future stock split plans after increasing the total authorized share capital. Possibly influenced by these remarks, BMNR closed at $31.19 on Friday, a gain of 14.88%.