Tom Lee Proposes Massive Expansion: BitMine Shares Could Skyrocket to 50 Billion

BitMine's leadership is pushing for a shareholder vote that could fundamentally reshape the company's capital structure—and its future.

The Big Ask

Tom Lee, a key figure at the crypto mining firm, is formally seeking approval to increase the company's authorized share count to a staggering 50 billion. This isn't a minor adjustment; it's a strategic move to unlock significant capital flexibility for what the company likely sees as a pivotal growth phase. The proposal puts the decision directly in the hands of the shareholders, framing the upcoming vote as a referendum on BitMine's ambition.

Why It Matters

In the high-stakes world of crypto mining, agility is currency. An expanded share structure provides the dry powder needed for acquisitions, strategic investments, or simply weathering the industry's notorious volatility. It’s a classic growth play—dilution today for potential market dominance tomorrow. Of course, for every investor dreaming of exponential returns, there's another nervously calculating their potential ownership slice in a much larger pie. It’s the eternal finance dance: promise future riches, but ask for a little piece of yours back first.

The move signals confidence, or at least immense preparation, for a future filled with both opportunity and intense competition. Whether this is visionary planning or just another corporate maneuver to keep the options open remains to be seen. Shareholders now hold the key to BitMine's next chapter—will they unlock it?

BitMine Shares Jump 14% as Tom Lee Flags Stock Split Risk Tied to Ether

Investors appeared receptive, with BitMine shares climbing about 14% on Friday to trade NEAR $30.93 by mid-afternoon in New York.

Lee framed the proposal primarily as a way to prepare for future stock splits as BitMine’s valuation tracks the price of Ethereum.

According to Lee, the company’s share price closely mirrors ether’s performance, creating the risk that BMNR could become prohibitively expensive for retail investors if ETH rallies sharply.

“If ETH rises to $22,000, our stock could be around $500,” Lee said. Under more aggressive assumptions, including a scenario where Bitcoin climbs to $1 million and ETH reaches $250,000, Lee estimates BitMine’s shares could carry an implied price near $5,000.

“Most people want shares to stay around $25,” he said, arguing that high nominal prices can deter participation regardless of fundamentals.

BitMine has repositioned itself as the largest Ethereum-focused digital asset treasury, holding roughly 3.41% of ETH’s circulating supply.

The company disclosed last week that it added another 44,463 ETH, bringing total holdings to more than 4.11 million ether.

While BitMine still maintains some Bitcoin-related operations, its Core strategy shifted in 2025 toward accumulating and staking ETH to generate yield.

Lee said that if ether were to reach $250,000, BitMine would likely need to execute a 100-for-1 stock split to maintain a share price near $25.

That scenario would require tens of billions of authorized shares, which the current structure does not allow. “We’re trying to get ahead of that,” he said.

BitMine Share Expansion Plan Divides Investors Over Dilution Risk

Not all investors are convinced. Reaction on social media has been mixed, with critics arguing that raising the authorized share limit could pave the way for dilution.

Supporters counter that authorized shares are not the same as issued shares and that the proposal simply gives management flexibility as the company’s crypto-linked valuation evolves.

Tom this looks fishy and ridiculous to authorize a higher share count because the stock might go to $500. You can do this next year when it isn’t in the gutter.

That’s like someone thinking of what color lambo to buy when they’re a millionaire…while having $50 in the bank.

Shareholders have until Jan. 14 to vote on the proposal.

As reported, BitMine plans to switch on its Made in America Validator Network in early 2026, aiming to earn staking yield from a $12 billion ETH hoard.

Last week, the company said it now holds 4,110,525 Ether, a stash it values at about $12 billion, making it the largest publicly-disclosed ethereum treasury and placing it among the biggest crypto balance sheets in the market.