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Bitmine receives shareholder approval for capital increase, preparing for subsequent stock issuance and ETH expansion
Foresight News reports that, according to CoinDesk, Bitmine Immersion Technologies has received shareholder approval to increase the company’s authorized share limit to enhance future financing flexibility. The company currently holds 4.203 million ETH, 193 BTC, shares worth $22 million in Eightco Holdings, and nearly $1 billion in cash.
According to a press release issued by the company on Tuesday, at the annual shareholders’ meeting held on January 15, Proposal No. 2 was approved with 81% of the votes, authorizing the company to expand the number of shares it can issue. This proposal does not mean the company will immediately issue new shares, but rather raises the cap on future authorized shares to provide room for subsequent financing, mergers and acquisitions, or continued ETH accumulation.