Authorized shares expanded by 100 times, is this company's Ethereum bet worth it?

Question

【Crypto World】Bitmine's subsidiary, a tech company, has recently become the focus again. They plan to expand their authorized shares from 500 million to 50 billion, a move that directly targets the Ethereum track—an obvious strategic shift. From the trading trend, this recent operation indeed ignited market enthusiasm, with a daily increase of 14.88%, and a 7-day gain of 10.17%. However, long-term volatility remains significant, with a 50.66% decline over the past 90 days, but looking at a longer horizon, the one-year increase actually reaches 310.68%.The current stock price is around $31.19, but the valuation appears quite ambitious—an earnings multiple of 40.5 times, far above the average level in the software industry. What does this reflect? The market is betting on the company's future growth through Ethereum-related business. Behind the valuation premium is actually investors' expectations of its blockchain strategic shift.

gas_fee_therapist · Accepted Answer

Authorized shares expanded from 500 million to 50 billion. This move is indeed aggressive, but is a PE of 40.5x really not scary?

Feels like betting on stories rather than fundamentals...

A 50% drop in 90 days, then a 15% increase in a single day—this volatility is really intense.

Another "disruptor" in the ETH track—can we stop always having concepts that exceed expectations and performance that disappoints?

This valuation premium... honestly, it's still about faith in the price.

TestnetFreeloader · Answer

Expanding authorized shares by 100 times? That's a really big gamble, betting that Ethereum can turn around...

P.E. 40 times is indeed outrageous, software stocks aren't this crazy. But a 310% increase in a year is also incredible, though recently it has fallen by more than half in the last 90 days. Can the mentality stay stable?

The market is betting on the future, but this price... there's a risk of being crushed once you buy in.

Expanding authorized shares by so many times, aren't you worried about severe dilution later on?

A 14.88% increase just gets you excited? How this plays out after this move depends on whether Ethereum can handle this.

Betting on Ethereum, in simple terms, is betting on an ecosystem explosion, but with the current situation... it's hard to say.

100x expansion of shares... sounds a bit off, I've seen this kind of scheme before.

AirdropHarvester · Answer

A 50x expansion isn't scary; it's the fact that they might actually pour in money and not make a splash that’s concerning.

Thinking of a PE ratio over 40 with just over 3x growth in a year? I see a lot of risk there.

Can ETH pull this off? It depends on whether the subsequent real revenue can support this valuation.

MetaLord420 · Answer

Expand the shares by 100 times? This courage is really big, and I feel like I'm betting on Ethereum

If you dare to do this after a 90-day drop of 50, you are either crazy or really optimistic

The price-earnings ratio is more than 40 times... This valuation is false, it feels a bit outrageous

A 310% increase in a year is outrageous, but the decline in the last 90 days is indeed tiring

I can't stand it and want to go in, but I'm afraid of the hammer of the receiver

Can we hold this wave of Ethereum rebound, or is this a trick to cut leeks?

CryptoSourGrape · Answer

If I had gotten in earlier, it would have been better. I just saw this move now. When it dropped 50% in 90 days, why didn't anyone remind me?

SatsStacking · Answer

100x expansion + ETH full staking… This gamble is pretty intense, whether it can turn around depends entirely on Ethereum's current market trend.

The stock price has only increased by 14 points and you're already bragging? The 50% drop over 90 days hasn't even healed yet. Who gave this valuation of PE 40.5x the courage?

Is this really an all-in move or just another prelude to cutting the leeks? Let's wait and see.

Not really, a long-term 310% increase indicates the market is still optimistic, but you have to withstand the volatility.

I just want to know if this 50 billion stock authorization is really going to be used or just a token? It feels a bit hollow.

RugResistant · Answer

A hundredfold expansion, really bold. I'm just worried it might be another illusion of "future growth."

Dare to add more Ethereum after a 50% drop in 90 days? That mindset is truly tense.

What does a PE of 40.5 mean? The market is just gambling. Win the bet, and everyone’s happy; lose, and I’ll just watch the show.

A 310% annual increase is attractive, but how long can this 14.88% recent surge last? The market has reversed multiple times in just a year.

Authorized shares expanded by 50 billion. This move feels like a frantic attempt to validate the concept. The outcome still depends on whether they can deliver.

Basically, it’s a gamble on the Ethereum ecosystem, but this valuation bubble is a bit outrageous.

Liquidated_Larry · Answer

100x share expansion? This feels a bit intense. With a P/E ratio over 40, how daring is this? You must be very bullish on Ethereum.

RooftopReserver · Answer

A 100x expansion sounds outrageous just hearing about it, this bet is a bit heavy

Dropping 50% in 90 days and still daring to do this, they really have guts

Price-to-earnings ratio of 40? They're just hyping the concept

A 310% increase in one year is indeed attractive, but I'm worried about a sudden plunge

Can they really play this game of ETH?

This move feels like blowing bubbles, waiting for the moment it bursts

The visual of pushing up the stock price to unload, I don't quite understand this operation

Valuation premium is just a beautification term, essentially it's still speculation, right?

CountdownToBroke · Answer

100x share expansion? That's just the old trick, hype it up first and then talk.

The stock price rises sharply and falls just as hard, halved in 90 days, what are they saying.

A P/E ratio of 40 times? That's a joke, relying on just talking about Ethereum to justify this valuation?

Betting on the Ethereum track is okay, but this valuation is really outrageous, it feels more like a casino.

A 310% annual increase sounds impressive, but with such volatility, it's not something you can play with.

Authorized shares expanded by 100 times, is this company's Ethereum bet worth it?

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