Bitmine Launches $300 Million Preferred Stock Offering with 9.5% Annual Dividend Rate

Bitmine, a leading Ethereum treasury firm, is taking a cue from its bitcoin-centric peers by offering preferred shares with a 9.5% annual dividend rate. The move comes as digital asset treasuries face growing pressure to secure new funding sources amidst declining crypto prices.

The company's $300 million preferred stock offering will be listed on the New York Stock Exchange (NYSE) under the ticker BMNP, subject to approval. Bitmine aims to tap into new funding channels, following in the footsteps of Strategy and Strive, which have introduced various classes of preferred equities.