Bitmine seeks to increase authorized shares from 500M to 50B

Bitmine (BMNR), which has been strategically accumulating ETH, is pursuing an increase in its authorized share limit from 500 million to 50 billion shares, CoinDesk reported. Chairman Tom Lee urged shareholders to approve the proposal, emphasizing that the move is not intended to dilute existing equity. Lee added that the increase is aimed at securing flexibility for future capital raising, mergers and acquisitions, and potential stock splits.