BitMine Immersion Technologies is seeking shareholder approval to increase its authorized shares from 500 million to 50 billion. This move, led by Chairman Tom Lee, aims to facilitate future stock splits as the company's share price rises alongside its primary treasury asset, Ethereum (ETH). The proposal, set for a shareholder vote by January 14, is intended to support selective capital raises, opportunistic mergers, and future share splits. Lee emphasized that the increase is not meant for immediate shareholder dilution but to maintain flexibility as BitMine pivots to holding Ethereum as its main asset. The company recently purchased 32,938 ETH for $97.6 million, bringing its total holdings to approximately 4.07 million ETH, valued at $12 billion. Despite Ethereum's challenging year, Lee remains optimistic about its long-term potential, projecting significant price increases and aligning BitMine's strategy with this outlook.