BitMine Immersion Technologies (NYSE: BMNR) stock surged 14.84% overnight to $31.73, after Chairman Tom Lee urged shareholders to support a proposal to increase the company's authorized shares from 500 million to 50 billion. Lee stated that this move is strategic for future financing, acquisitions, and potential stock splits, and he believes that if BitMine's stock price tracks a significant rise in Ethereum, a split may become necessary. Shareholders must vote before January 14.
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BitMine Immersion Technologies (NYSE: BMNR) stock surged 14.84% overnight to $31.73, after Chairman Tom Lee urged shareholders to support a proposal to increase the company's authorized shares from 500 million to 50 billion. Lee stated that this move is strategic for future financing, acquisitions, and potential stock splits, and he believes that if BitMine's stock price tracks a significant rise in Ethereum, a split may become necessary. Shareholders must vote before January 14.