BitMine Proposes Increasing Authorized Shares to 50 Billion Amid Ethereum Price Surge
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 03 2026- Ethereum Price Surge: Ethereum has risen 4% in the last 24 hours to $3,122, with daily trading volume skyrocketing 119% to $24.5 billion, indicating strong market demand and a recovery in investor confidence.
- Authorized Shares Increase: BitMine proposes increasing its authorized shares from 50 million to 50 billion to accommodate potential sharp price fluctuations in Ethereum, ensuring the company can execute a 100-to-1 stock split to maintain affordability as share prices rise.
- Significant ETH Holdings: BitMine currently holds over 4 million ETH, valued at more than $12 billion, and has begun staking ETH to earn yield, reflecting the company's confidence in Ethereum's future potential following its strategic shift.
- Market Reaction: Despite criticism on social media regarding the dilutive nature of the share increase plan, Lee emphasizes that this move addresses “unit bias,” encouraging investors to focus on long-term value rather than short-term price fluctuations.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
