Tom Lee's explanation for increasing ATM authorization from 500 million to 50 billion shares

BMNR 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)