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Bitmine Files Series A Perpetual Preferred Stock Offering Worth $300M Amid $9.2B ETH Unrealized Losses

2026-06-04 03:20:05

BMNR-5.21%

ETH-0.95%

According to a Securities and Exchange Commission filing on Wednesday, Bitmine, the world's largest Ethereum treasury company, submitted an application to launch a public offering of 3 million shares of Series A perpetual preferred stock with a fixed annual dividend rate of 9.50% per $100 share. The company plans to list the shares on the New York Stock Exchange under the ticker BMNP, with trading expected to commence within 30 days. Bitmine said it intends to use proceeds for general purposes, including purchasing additional ETH and expanding staking operations. The move comes as the company holds 5.4 million ETH but faces an estimated $9.2 billion in unrealized losses on its ether position, according to Dropstab data, as Ethereum trades at $1,774 down 4.16% in 24 hours.

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In-Depth Analysis

Gate Daily Report (June 4): Bitmine issues preferred shares with an annual dividend yield of 9.5%; May crypto venture capital monthly trading volume hits a 5-year low

Market Whisper2h ago

Bitmine Faces $8.9B Unrealized Losses as ETH Drops Below $1,800

Lucas Bennett5h ago

Bitmine Buys 25,000 ETH Worth $48M Amid Institutional Caution

Ethan Brooks13h ago

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