Ethereum-related company BitMine's Chairman Tom Lee recently proposed an important resolution to shareholders, planning to expand the company's authorized shares from the current 500 million to 50 billion. This move has attracted attention in the industry.

Many people were shocked by this number, but Tom Lee explained clearly — this does not mean issuing that many shares immediately to flood the market, but rather to leave room for future financing activities. Specifically, the company may need to use flexible financing methods such as "market price issuance," or issue convertible bonds and preferred shares. Ultimately, the goal is to hold chips in the rapidly changing digital asset market, so that when acquisition opportunities arise, they can act quickly.

This time, Tom Lee also took the opportunity to support ETH. According to his analytical model, BitMine's stock price shows a close positive correlation with the price of Ethereum. In other words, when ETH rises, the company's stock price follows. Based on this logic, he once again set a target price for Ethereum: $22,000 to $250,000. Even more exaggerated, he predicts that if ETH really reaches that height, the implied per-share price of BitMine could be between $500 and $5,000.

Of course, this is a relatively aggressive forecast. But it also reflects some institutional investors' optimistic attitude towards the long-term development of the Ethereum ecosystem. The simultaneous expansion of equity and continued bullish signals are still worth paying attention to in the market.