{"id":3710,"date":"2026-06-07T23:08:07","date_gmt":"2026-06-07T23:08:07","guid":{"rendered":"https:\/\/blog.coinsignals.net\/?p=3710"},"modified":"2026-06-07T23:08:07","modified_gmt":"2026-06-07T23:08:07","slug":"bitmine-unveils-preferred-stock-offering-to-expand-ethereum-holdings","status":"publish","type":"post","link":"https:\/\/blog.coinsignals.net\/index.php\/2026\/06\/07\/bitmine-unveils-preferred-stock-offering-to-expand-ethereum-holdings\/","title":{"rendered":"Bitmine Unveils Preferred Stock Offering to Expand Ethereum Holdings"},"content":{"rendered":"\n
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Ethereum treasury firm Bitmine has announced plans to launch a public offering of 3 million shares of its 9.50% Series A Perpetual Preferred Stock as part of its strategy to further strengthen its position in the digital asset market.<\/p>\n\n\n\n

The company has submitted an application to list the preferred shares on the New York Stock Exchange under the ticker symbol BMNP<\/strong>, with trading expected to begin within 30 days of issuance, subject to regulatory approval.<\/p>\n\n\n\n

Funds to Support Ethereum Expansion and Corporate Growth<\/strong><\/p>\n\n\n\n

According to Bitmine\u2019s filing with the United States Securities and Exchange Commission, the capital raised from the offering will be allocated toward several key initiatives. These include purchasing additional Ethereum and other digital assets, expanding staking and validator operations through the company\u2019s MAVAN platform, supporting working capital needs, pursuing strategic investments linked to Ethereum and broader blockchain adoption, and potentially repurchasing common shares through its existing buyback program.<\/p>\n\n\n\n

The preferred stock will pay cumulative dividends at an annual rate of 9.50 percent based on a stated value of $100 per share. Dividend payments will be made in cash whenever approved by the board of directors.<\/p>\n\n\n\n

If declared dividends are not paid on time, unpaid amounts will accumulate additional compounded dividends on a weekly basis. The dividend rate may gradually increase until it reaches a maximum of 15 percent annually, remaining at that level until all outstanding obligations are settled.<\/p>\n\n\n\n

Model Inspired by Strategy\u2019s Preferred Stock Program<\/strong><\/p>\n\n\n\n

Bitmine\u2019s offering follows a structure similar to the STRC perpetual preferred stock introduced by Strategy under the leadership of Michael Saylor. That product offers an annual dividend yield of 11.5 percent and has attracted investors seeking regular income while maintaining indirect exposure to Bitcoin.<\/p>\n\n\n\n

Since its initial public offering in July 2025, STRC has raised approximately $2.52 billion and later expanded through additional issuances. The program currently carries a total notional value of about $10.5 billion.<\/p>\n\n\n\n

Ethereum Accumulation Remains a Priority<\/strong><\/p>\n\n\n\n

Bitmine continues to aggressively expand its Ethereum reserves. The company revealed that it now holds approximately 5.42 million ETH, bringing it close to its goal of controlling 5 percent of Ethereum\u2019s total supply. According to the firm, around 4.72 million ETH are currently staked, with a portion managed through the MAVAN staking platform.<\/p>\n\n\n\n

This accumulation strategy has made Bitmine the largest corporate holder of Ethereum and the second largest cryptocurrency treasury company overall, trailing only Strategy.<\/p>\n\n\n\n

However, Ethereum\u2019s recent market performance has presented challenges. The asset has fallen more than 45 percent since the start of the year, leaving Ethereum treasury firms under pressure. Estimates suggest Bitmine is currently facing unrealized losses exceeding $10 billion on its holdings.<\/p>\n\n\n\n

Despite these setbacks, Bitmine Chairman and Fundstrat co founder Tom Lee remains confident in Ethereum\u2019s long term outlook. He continues to argue that the market is approaching the end of its bearish phase and believes a new period of growth for the cryptocurrency sector could soon emerge.#crypto#cryptonews https:\/\/coinsignals.net<\/a> https:\/\/t.me\/coinsignalpublic<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum treasury firm Bitmine has announced plans to launch a public offering of 3 million shares of its 9.50% Series A Perpetual Preferred Stock as part...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3710","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/3710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/comments?post=3710"}],"version-history":[{"count":1,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/3710\/revisions"}],"predecessor-version":[{"id":3712,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/3710\/revisions\/3712"}],"wp:attachment":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/media?parent=3710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/categories?post=3710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/tags?post=3710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}