---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/37498407.md"
description: "Tom Lee's explanation for increasing ATM authorization from 500 million to 50 billion sharesBMNR released a monthly Chairman Message video, where Tom Lee explained the reasons for applying to increase authorized shares from 500 million to 50 billion shares:1. The purpose is not dilution: Clearly denied that it was for short-term dilution of equity, but rather to provide flexibility for the company's future.2. Three reasons for increasing authorized shares (the most important being the third):- Allow selective ATM financing (issuing additional shares at favorable times, i.e., when mNAV>1);- Prepare for potential M&A and other investment opportunities;- Most importantly: Reserve space for future stock splits. If the stock price rises significantly, the company will need to split shares to keep the price at an accessible level for the public. Splits will increase the number of outstanding shares, hence requiring a higher authorization ceiling.$BitMine Immersion Tech(BMNR.US)"
datetime: "2026-01-02T14:19:18.000Z"
locales:
  - [en](https://longbridge.com/en/topics/37498407.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/37498407.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/37498407.md)
author: "[lyhalfway](https://longbridge.com/en/profiles/3372973.md)"
---

# Tom Lee's explanation for increasing ATM authoriza…


### Related Stocks

- [BMNR.US](https://longbridge.com/en/quote/BMNR.US.md)
- [LEE.US](https://longbridge.com/en/quote/LEE.US.md)
- [BMNRD.US](https://longbridge.com/en/quote/BMNRD.US.md)

## Comments (15)

- **蓝皮葱 · 2026-01-02T17:13:10.000Z**: Uncle, I don't dare to trade options, can I hold bmnr now and wait for the bull market of BTC and ETH?
  - **lyhalfway** (2026-01-03T14:29:12.000Z): At this price, I think it's ok
- **sleepwell2026 · 2026-01-02T15:04:12.000Z · 👍 1**: The third reason for dilution is a bad joke
- **Avalon_Yoiwd3 · 2026-01-02T14:58:05.000Z**: Can the stock price increase a hundredfold... with so many additional shares issued
- **曙光在明天 · 2026-01-02T14:36:02.000Z**: How long do you think the mNAV below 1 needs to be alerted? During my holding period, this recent one has lasted the longest.
  - **lyhalfway** (2026-01-02T14:39:13.000Z): If ETH continues to struggle, mNAV may not rise for a long time, which is determined by market sentiment. This time it lasted for almost 2 weeks, I think it's more due to the low trading volume of ins
- **路壹飞 · 2026-01-02T14:35:00.000Z · 👍 2**: If we follow the stock split explanation, then it's quite reassuring😌
- **金钱龟龟 · 2026-01-02T14:30:48.000Z · 👍 1**: A bit scary, 5 billion turned into 50 billion
- **史密斯周 · 2026-01-02T14:22:33.000Z · 👍 4**: From 500 million to 50 billion, why does it feel less and less reliable? Better to buy companies with high moats. Scared of this stock, lost too much, small bets for fun.
- **红方投资 · 2026-01-02T14:21:07.000Z**: Uncle Ya, are your June options still there? The remaining one dollar and a bit is a bit unbearable.
  - **lyhalfway** (2026-01-02T14:22:12.000Z): Here, I've been averaging down recently, both on the underlying stocks and options.
  - **Antik10** (2026-01-02T14:23:31.000Z): Uncle Yaren still sells part of the position to cover or keeps cash position
  - **lyhalfway** (2026-01-02T14:25:10.000Z): It's for June and 2027