#Preferred Stock #Ethereum #BitMine

Bitmine Immersion Technologies Announces Series A Preferred Stock Offering

Bitmine Immersion Technologies, Inc. (NYSE: BMNR) has made a significant announcement regarding its financial strategy. On June 5, 2026, the company revealed plans for a public offering of 3,000,000 shares of Series A perpetual preferred stock with a fixed annual dividend of 9.50%. This offering is subject to market conditions and other regulatory approvals.

Purpose of the Offering

The net proceeds from this offering are earmarked for several strategic objectives. These include the acquisition of additional Ethereum (ETH) and other digital assets. The funds will also contribute to expanding the company’s staking and validation infrastructure. Other intended uses encompass working capital, strategic investments aligned with Ethereum's ecosystem, broader adoption of digital assets, and potentially repurchasing common stock as part of the company’s stock buyback program.

Dividend Structure

Investors in the Series A preferred shares will receive cumulative dividends at a fixed rate of 9.50% per annum based on a stated value of $100 per share. This will be the case regardless of whether sufficient funds have been declared for payment. The dividends will be payable only if declared by the board and will initially be distributed weekly, with the potential for the company to increase the frequency to more than once weekly at its discretion.

In scenarios where a declared dividend is not paid on the designated payment date, additional