Bitmine Files for $300M 9.50% Series A Perpetual Preferred Stock to Add ETH

Bitmine Immersion Technologies (NYSE: BMNR) said on June 3, 2026 it filed with the SEC for a $300 million 9.50% Series A Perpetual Preferred Stock offering, aiming to fund additional ETH purchases and other corporate uses. The company reported holding 5,416,901 ETH as of May 31, 2026 and expects staking income of up to $296 million annually, versus an estimated $28.5 million yearly dividend cost. Bitmine also applied to list the preferred shares on the NYSE under BMNP, with trading anticipated within 30 days of issuance if approved.