Fan group Rangers First now owns two percent of the Scottish Championship club after extending their Light Blues shareholding to 1.6 million shares.
And it has also been given another 410,000 shares in proxies ahead of next month's crucial general meeting, which could spell the end of the current board's Ibrox reign.
The group -- Britain's biggest fan-ownership scheme -- has already announced it will use its now combined 2.5 percent stake to back Dave King's bid to oust directors David Somers, James Easdale, Derek Llambias and Barry Leach after a poll of its 11,700 members.
Rangers First will also vote King, Paul Murray and John Gilligan onto a new-look board of directors.
Spokesman Ricki Neill has praised the Light Blue faithful for their continued commitment to Rangers First ahead of the decisive March 6 meeting at Ibrox.
He said: "Rangers First has certainly captured the imagination of supporters and we are delighted to announce an increased shareholding of two percent in Rangers Football Club with a further 0.5 percent in proxies.
"I am thrilled with the growth of our organisation in just a few months as we have gone from having meetings with a small group of supporters to just under 12,000 members and there is no doubt Rangers First will have a crucial role to play at the forthcoming General Meeting and beyond.
"Our members have overwhelmingly voted in favour of Dave King's resolutions and, like many supporters around the world, we will be heard."
In a statement released to the media, King also praised the Light Blues' fans for their increasing activism in Rangers First and described the organisation's achievement as "phenomenal".
He said: "What Rangers First has achieved is phenomenal and bears testimony to the hard work of its officers and to the active loyalty of the 12,000 fans that make up its support base.
"The support for Rangers First makes it clear that we can now expect full and active fan support in ensuring that Rangers returns to its natural position in Scottish and European football.
"I am excited about the prospect this offers to work, as partners, with the fan representatives immediately after the general meeting on the 6th March.
"We have challenges ahead and will only be successful if we pull together to reverse the damage to the club that has been inflicted by members of the present board."