Bitmine outlines $300M Series A preferred stock offering for additional ETH buys

Bitmine (Nasdaq: BMNR) said on June 3 it plans to offer 3,000,000 Series A preferred shares priced at $100 each, carrying a 9.50% annual dividend, for up to $300 million in gross proceeds. The company said the net proceeds may go toward general corporate purposes including acquiring additional ETH and other digital assets, expanding staking/validator infrastructure via MAVAN, and potentially funding a share repurchase program.