Thomas Lee's Strategic Statement: BitMine's ETH Accumulation Plan is Subject to Shareholder Approval

Thomas Lee, President of BitMine Immersion Technologies, emphasized that the company’s ability to grow its ether portfolio is directly linked to shareholder approval for the new share issuance. Following recent ETH purchases conducted over the past week, Lee issued a clear warning that this pace may slow down in the coming weeks.

BitMine, which plays a significant role in the crypto treasury sector, has accumulated 4,167,768 ether tokens, representing 3.45% of the circulating supply. These figures indicate that the company is approaching its ultimate goal of controlling 5% of the total ETH supply.

Critical Message from Thomas Lee on ETH Portfolio Expansion

As chairman, Thomas Lee announced that BitMine’s current authorization of 500 million shares will soon be exhausted, and at that point, shareholder support for a new share issuance will become necessary. According to the quote, Lee said, “In this case, our ETH accumulation will slow down,” and noted that strategic resource allocation would remain limited until the authorization is completed.

Considering that more than 50.1% of the total issued shares need to be voted in favor for the share increase proposal to progress, this criterion is considered quite high. The shareholder vote scheduled for Thursday is seen as a critical step that will determine the future of BitMine’s ether portfolio strategy.

BitMine’s Comprehensive Digital Asset Strategy

BitMine’s digital asset portfolio is not limited to ETH accumulation; it also includes diversified holdings. The company has strategized to earn passive income by staking over 1.2 million ETH. Additionally, it holds 193 bitcoins and a $23 million stake in Eightco Holdings.

According to recent assessments, BitMine’s total assets, including cryptocurrencies, cash, and strategic investments, have reached $14 billion, with cash reserves increased to $988 million. Given that ETH prices are trading around $2.42K, the company’s position strength is evident.

BitMine’s Strategic Approach in Market Conditions

While other digital asset treasuries have reduced ETH purchases recently due to volatile market conditions, BitMine has taken the opposite approach, continuing its accumulation strategy by financing it through the sale of shares. This approach reflects the management’s confidence in the long-term potential of ETH under Thomas Lee’s leadership.

The upcoming shareholder vote will be key to whether BitMine can continue this aggressive accumulation strategy. If approved by more than 50.1%, the likelihood of the company reaching its ETH portfolio targets will significantly increase.