BitMine Expands Series A Perpetual Preferred Stock Offering to 3.5 Million Shares

BitMine, an Ethereum treasury company, said it has increased the size of its Series A perpetual preferred stock offering to 3.5 million shares from 3.0 million shares, priced at $80 per share with a 9.5% dividend rate. According to Foresight News, the company expects net proceeds of about $273.8 million and plans to close the transaction on June 10. BitMine said the funds will be used to increase holdings of ETH and other digital assets, expand staking and validator infrastructure including its MAVAN network, and make strategic investments. The company has applied to list the preferred stock on the New York Stock Exchange under the ticker symbol “BMNP.”