BMNR Stock Surges 14% as BitMine Stakes Another $259M in ETH Amid Shares Proposal

BitMine has once again increased its Ethereum in its staking program as it targets increased yield on its investments. To note, the BMNR stock increased by as much as 14% after Tom Lee urged its shareholders to support its shares proposal to sustain the buying of ETH.

Why is BMNR Stock Rising?

BitMine Immersion’s equity soared by 14% after chairman Tom Lee encouraged shareholders to vote in favor of a plan which would see a drastic rise in the company’s authorized share capital.

Lee has canvassed the vote of the investors for the increase in the authorized shares from 500 million to 50 billion. According to him, when the share ceiling goes up, the company has the opportunity to raise more money opportunistically, make acquisitions, as well as make future stock splits.

As Lee reiterated, BMNR’s stock price has been more influenced by ETH, now that the company has changed its strategy to be Ethereum-focused.

He stated that share splits may become an issue in case Ethereum gains substantial value in the next few years. He provided scenarios where, with ETH prices ranging from $22,000 to above $60,000, the stock could move towards $500.

Lee had expressed his positive views about the token in his recent analysis. He had forecasted that ETH might trade between $7,000 and $9,000 in early 2026.

‘Most people want stocks around $25,’ Lee said. He specifically mentioned the need to ensure accessibility while scaling the company with the growth of Ethereum. Shareholders will have until the 14th of January to approve the proposal.

BitMine Builds on Ethereum Staking Exposure

According to on-chain data, the Ethereum proof-of-stake contract saw the deposit of 82,560 ETH from the firm. This transaction is worth approximately $259 million. This recent transaction is the culmination of aggressive staking that took place in late December.

Tom Lee(@fundstrat)'s #Bitmine staked another 82,560 $ETH($259M) 4 hours ago.

In total, #Bitmine has now staked 544,064 $ETH($1.62B).https://t.co/P684j5YQaG pic.twitter.com/3OItIe2k4d

— Lookonchain (@lookonchain) January 3, 2026

Since launching its staking services on December 27, the firm has so far pledged a cumulative sum of around 544,064 ETH. Taking into consideration current prices, such staked funds are valued at around $1.7 billion at today’s prices. This is equivalent to around 13% of the firm’s estimated ETH holding of 4.11 million.

This latest transaction comes hot on the heels of a massive mid-week transaction by BitMine, which staked tokens valued at a staggering $352 million. This makes it one of the most active corporate Ethereum stakers in the market.

The speed at which staking is happening reflects the increased focus of the firm on income generation as opposed to trading for price speculation. Via locking the assets in the validation system on the Ethereum network, the firm earns staking rewards income.

BitMine earlier disclosed that the Made in America Validator Network (MAVAN) was expected to start in 2026. Yet it has commenced staking ahead of schedule in late December.