BitMine chairman proposes 1,000x increase in company's authorized shares, to 50B
BitMine's chairman has proposed a significant increase in the company's authorized shares, suggesting a rise from the current amount to 50 billion shares, representing a 1,000-fold increase. This move is aimed at providing the company with more flexibility for future financing and growth opportunities. The proposal will require shareholder approval before it can be implemented. If approved, the increase in shares could potentially dilute existing shareholders' stakes. The decision reflects BitMine's strategy to enhance its capital structure amid the evolving cryptocurrency market.
Read the full article: Coin Telegraph