BitMine's proposal to increase authorized shares from 500 million to 50 billion faces growing opposition from shareholders. CEO Tom Lee (Tom Lee) believes this move is a long-term strategic flexibility for Ethereum. Critics, including analyst Travis, argue that this scale is "over the top," undermines governance, and raises dilution concerns, especially as the company's stock trades close to its net asset value. The executive compensation plan is linked to total ETH holdings rather than ETH per share, which has heightened concerns.
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BitMine's proposal to increase authorized shares from 500 million to 50 billion faces growing opposition from shareholders. CEO Tom Lee (Tom Lee) believes this move is a long-term strategic flexibility for Ethereum. Critics, including analyst Travis, argue that this scale is "over the top," undermines governance, and raises dilution concerns, especially as the company's stock trades close to its net asset value. The executive compensation plan is linked to total ETH holdings rather than ETH per share, which has heightened concerns.