Bitmine Closes $273.8M Preferred Stock Offering; ETH Holdings Reach 5.62M Tokens
BMNR has more than doubled off its 52-week low of $3.92.
Summary
Bitmine Immersion Technologies announced the closing of its $273.8 million preferred stock offering and an update to its total crypto and cash holdings, which now stand at $10.4 billion, including 5.62 million ETH tokens.
Key Events · Financing and Capital Events · BMNR
-
Preferred Stock Offering Closed
The company successfully closed its offering of 3,500,000 shares of 9.50% Series A Perpetual Preferred Stock at $80.00 per share, generating net proceeds of approximately $273.8 million. This finalizes the terms of the offering initiated on June 5, 2026.
-
Increased Crypto & Cash Holdings
Total crypto and cash holdings reached $10.4 billion as of June 14, 2026, including 5.62 million ETH tokens (valued at $8.1 billion) and $502 million in cash. This marks an increase from the $9 billion reported on June 8, 2026.
-
Significant ETH Staking
Bitmine holds 4,718,677 staked ETH, representing $8.1 billion, with projected annualized staking revenues of $226 million.
-
Preferred Stock NYSE Listing
The Series A Preferred Stock is expected to begin trading on the NYSE under the symbol BMNP starting June 16, 2026, with weekly cash dividends declared.
Analysis · BMNR · Crypto Assets
This filing confirms the successful closing of a $273.8 million preferred stock offering, providing significant capital to the company. Concurrently, Bitmine updated its total crypto and cash holdings to $10.4 billion, including 5.62 million ETH tokens, representing a substantial increase in its core digital asset treasury. The preferred stock will begin trading on the NYSE, and its dividends will be supported by projected annualized ETH staking revenues.
At the time of this filing, BMNR was trading at $17.23 on NYSE in the Crypto Assets sector, with a market capitalization of approximately $9.2B. The 52-week trading range was $3.92 to $161.00. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.