Bitmine has secured investor support to expand its share cap, but will not immediately issue new shares.

Odaily Odaily reports that Ethereum treasury company Bitmine Immersion Technologies has received shareholder approval to expand its authorized shareholding. The proposal garnered 81% approval. However, the proposal does not mean an immediate issuance of new shares, but rather increases the upper limit on the number of shares the company can issue in the future. Currently, Bitmine holds 4.203 million ETH (approximately 3.5% of the circulating supply), 193 BTC, and a $22 million stake in Eightco Holdings, in addition to nearly $1 billion in cash. Furthermore, Bitmine has staked approximately 1.83 million ETH, resulting in an overall Ethereum staking ratio of 2.83%, and recently invested $200 million in Beast Industries, demonstrating its ETH accumulation and diversification strategy. (CoinDesk)