Bitmine Secures Shareholder Approval to Boost Share Capital for ETH Expansion

2026-01-20 23:46

Bitmine Immersion Technologies has received shareholder approval to increase its authorized share capital, enhancing its flexibility for future financing. At the annual shareholders' meeting on January 15, Proposal No. 2 was passed with 81% approval, allowing the company to raise the upper limit of shares it can issue. This move is aimed at facilitating future fundraising, mergers, acquisitions, or further Ethereum purchases. Bitmine currently holds 4.203 million ETH, 193 BTC, a $22 million stake in Eightco Holdings, and nearly $1 billion in cash. The company assured shareholders that any new shares will not be issued below the market net asset value (mNAV), with the current stock price at approximately 0.86 times its mNAV.

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