The outside world is concerned about whether the BitMine shareholders' meeting will approve the issuance of additional shares. Tom Lee states that Korean investors hold 10% of the shares.

Ethereum (ETH) largest enterprise holder, BitMine Immersion Technologies, is at a critical turning point in its expansion strategy. BitMine Chairman Tom Lee issued a statement on Monday stating that the company's ability to continue large-scale ETH acquisitions will depend on whether shareholders approve an increase in authorized capital. If the proposal is not passed, BitMine may be forced to slow down ETH purchases in the coming weeks. The outside world continues to pay attention to the resolution of the BitMine shareholders' meeting.

Tom Lee proposes to issue more shares, stating that 500 million shares have been exhausted

Tom Lee said that the current authorized issuance of 500 million shares by BitMine is nearly exhausted, and an increase in authorized shares must be immediately promoted to maintain the established Ethereum accumulation pace. He emphasized that, according to the company's articles of association, any proposal to increase authorized capital must be supported by at least 50.1% of the issued shares to pass. He admitted that this is a very high threshold, making the issuance of additional shares very challenging.

According to company disclosures, as of now, BitMine holds over 40.7 million ETH, with a market value of approximately $13.43 billion, accounting for about 3.3% of the total circulating supply. The company has repeatedly stated its long-term target is 5%.

Korean investors hold 10% of BitMine shares, Tom Lee appeals to vote with hometown pride

Tom Lee further revealed that BitMine held its annual shareholders' meeting on January 15, during which a key proposal will be voted on to significantly increase the authorized shares from 500 million to 50 billion. The company stated that this move is not to issue new shares immediately in large quantities but to reserve flexibility for future stock splits, strategic acquisitions, and capital operations.

In an interview with Korea's financial channel 3PRO TV, Tom Lee pointed out that if the proposal is not approved, BitMine will be unable to further purchase Ethereum through new share issuance, and it may also limit the company's ability to make external acquisitions. Regarding market concerns about equity dilution, he emphasized that BitMine has never issued shares at a price below net asset value (NAV).

It is noteworthy that Tom Lee stated that Korean investors currently hold about 10% of BitMine shares, which has a substantial influence on the voting outcome. He also called on shareholders to actively participate in the vote. Additionally, the company announced the appointment of Young Kim as the new COO and CFO to strengthen operations and financial management.

Vitalik and Sam Altman attend, BitMine charts 2026 roadmap

Tom Lee revealed that Vitalik Buterin and Sam Altman have been invited as guest speakers at the shareholders' meeting, demonstrating BitMine's high connection with the Ethereum ecosystem and the tech circle. The company also plans to showcase its development blueprint for 2026 during the event. In addition to staking rewards, it will seek more growth sources in the future and does not rule out acquiring other crypto asset treasury companies.

Investing $200 million in MrBeast to enter the creator economy

Apart from capital structure issues, another recent move by BitMine has also attracted market attention. Led by Tom Lee, BitMine recently announced an investment of $200 million in YouTube top creator MrBeast's behind-the-scenes company, Beast Industries. The deal is expected to be completed by January 19. This move is seen as Ethereum's capital making its first large-scale entry into mainstream entertainment and creator economy, attempting to open up exposure and user access to the public.

(BitMine invests $200 million in MrBeast, connecting YouTube for exposure and sales?)

Market analysis indicates that BitMine is gradually transforming from a simple “Ethereum hoarder” into a crypto asset company with capital operations, industry investments, and ecological influence. The outcome of this shareholder vote will directly impact its expansion pace and strategic flexibility in the coming years.

This article's outside attention on whether the BitMine shareholders' meeting will approve the issuance of additional shares, with Tom Lee stating that Korean investors hold 10% of the shares, was first published on Chain News ABMedia.