Ethereum co-founder Vitalik Buterin and OpenAI CEO Sam Altman are set to attend Bitmine Immersion Technologies' annual shareholder meeting today in Las Vegas. This gathering represents a notable convergence of prominent figures from the blockchain and artificial intelligence sectors.
The primary focus of the meeting is a significant vote concerning Bitmine's authorized common shares. The proposal aims to increase the current limit from 500 million to 50 billion shares, a tenfold expansion that Chairman Tom Lee has described as crucial for the company's continued growth.
Both Vitalik Buterin and Sam Altman are anticipated to deliver speeches at the event, which is being held at the Wynn Las Vegas. This information was shared by Chairman Tom Lee during an interview with the Korean media platform Sampro TV on Wednesday.
Bitmine's Financial Position and Strategic Goals
Bitmine, which began acquiring Ethereum in June 2025, currently holds 4.1 million ETH tokens. These holdings are valued at approximately $13.6 billion, which constitutes 3.4% of Ethereum's total circulating supply.
The proposed increase in authorized shares is intended to provide Bitmine with the necessary capital flexibility to sustain its aggressive acquisition strategy. The company primarily utilizes equity issuance as its funding mechanism for cryptocurrency purchases.
"If you don't vote in favor of increasing the shares, the company will stop growing," Lee stated. He further elaborated that the management team seeks authorization levels that will be sufficient to prevent the need for future shareholder votes on similar matters.
Chairman Lee also alluded to potential acquisitions of financial institutions. He suggested that the expanded share authorization would serve to support both future stock splits and significant strategic transactions.
Significance of Key Attendee Involvement
The participation of Vitalik Buterin and Sam Altman elevates the profile of this shareholder meeting, which is essentially a vote of confidence in Bitmine's current operational model.
Sam Altman has historically made limited public comments regarding Ethereum, despite his involvement in the blockchain space through Worldcoin. Similarly, Vitalik Buterin has not previously commented on Bitmine, even as the company has become one of Ethereum's most substantial institutional holders.
Buterin has previously voiced general support for companies that hold Ethereum as treasuries, viewing them as indicators of institutional confidence. However, he has also cautioned against the risks associated with overleveraging, and these sentiments may influence his remarks at the meeting.
The proposed share authorization vote is facing scrutiny from certain investors who have expressed concerns about potential dilution. Nevertheless, Chairman Lee has asserted that the company has consistently avoided issuing shares at a price below their net asset value.