Tag: controversy among individuals

BitMine proposes a 50B share increase as the stock soars

The post BitMine proposes a 50B share increase as the stock soars appeared com. The chairman of BitMine Immersion Technologies, Tom Lee, has urged shareholders to consider a proposal to increase the firm’s total number of shares from 50 million to 50 billion. This change, according to the chairman, may be essential for future stock splits, as Ether’s price has a significant impact on the company’s value. Lee noted that BitMine’s share price is keeping up with Ether’s price. To effectively forecast future values, the executive carefully observed the ETH/Bitcoin ratio. Based on his argument, if, by any chance, BTC achieves a peak of $1 million, ETH would secure an all-time high of $250,000. At this point, Lee asserted that this rise would significantly increase the price of BitMine’s shares to highs he anticipated would be unreachable for many retail investors. Lee demonstrates a strong commitment to increasing the total number of BitMine’s shares In 2025, BitMine started as a Bitcoin mining and holding firm. Later, after careful consideration, the company shifted its focus to embracing an ETH treasury strategy. However, sources pointed out that BitMine continues to conduct some Bitcoin operations. Regarding his prediction, Lee declared that if ETH attained a peak of $250,000, BitMine shares could encounter an implied cost of approximately $5,000 each. Reports stated that this price is costly for several regular investors. To support this claim, the chairman mentioned that not everyone desires stocks to be priced at $500, $1, 500, or $5,000; instead, a large group of individuals wants shares to be priced around $25. Meanwhile, apart from this finding, Lee also acknowledged that if ETH reaches an all-time high of $250,000, BitMine would be required to carry out a 100: 1 stock split to maintain the share price at $25. With the move in place, the firm’s shares are expected to increase the total number to 43 billion. In.