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.
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 a statement, Lee mentioned, “Right now, there are 426 million shares available. We aim to increase the authorized share count to 50 billion. However, that doesn’t mean we will actually create 50 billion shares; that’s just the highest number we want.”
Reports highlighted that Lee is referring to the unit bias issue. Unit bias, in the basis of finance, is the psychological tendency for investors to prefer owning whole units of an asset (like a whole Bitcoin or share) over fractions, or to equate a low price per unit with better value, even when the total investment value is the same or a fractional amount of a pricier asset is a better investment.
Lee’s idea faces criticism
Regarding Lee’s proposal to increase the total number of BitMine’s shares, reports pointed out that several users shared negative responses to this suggestion on X. Some argued that it is unwise to raise the limit of authorized shares because this act would dilute the stock.
This discussion made headlines, sparking controversy among individuals in the crypto ecosystem. One user remarked, “Tom, this seems shady and silly to raise the share count just because the stock could hit $500. You should wait until next year when it’s not in such bad shape.”
Nonetheless, despite these concerns, recent reports highlighted that BitMine purchased approximately 32,938 ETH on Tuesday of this week for more than $102 million, based on current prices. Notably, as of December 2025, BitMine’s treasury had expanded to more than 4 million ETH, valued at over $12 billion. The firm also began staking ETH to generate income.
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