Shareholders of Bitmine Immersion Technologies (BMNR) are facing a critical vote on Jan. 15 to approve an increase in authorized shares from 500 million to 50 billion. Chairman Tom Lee is pushing for this change to support the company’s Ethereum accumulation strategy. Bitmine holds 4.1 million ETH valued at around $12.1 billion, making up 3.41% of the total ETH supply. This move reflects Bitmine’s bullish outlook on Ethereum’s price, with potential scenarios of $22,000 to $250,000 leading to share prices of $500 to $5,000. Bitmine is now a major player in the crypto market, with a market cap over $13 billion and an average daily dollar volume of $980 million. The company is transforming into an Ethereum treasury platform, aiming to own 5% of the total Ethereum supply. Despite its success, investors should be aware of the company’s heavy reliance on ETH prices, making it a volatile investment.

Read more at Barchart: If You Like Digital Asset Treasury Stocks, You Need to Mark Your Calendars for January 15