TechFlow reports on January 20 that, according to CoinDesk, Bitmine Immersion Technologies has received shareholder approval to increase the cap on shares it can issue, enhancing flexibility for future financing. The company currently holds 4.203 million ETH, 193 BTC, a $22 million stake in Eightco Holdings, and nearly $1 billion in cash.
As disclosed in a press release issued by the company on Tuesday, Proposal No. 2 was approved with 81% of votes in favor during the annual general meeting held on January 15, authorizing the expansion of the number of shares the company can issue. This proposal does not imply an immediate issuance of new shares but raises the upper limit on shares available for future issuance, creating room for subsequent financing, mergers and acquisitions, or continued accumulation of Ethereum holdings.
