Bitmine Prices Upsized $273.8M Preferred Stock Offering at 9.50% Dividend
BMNR has more than doubled off its 52-week low of $3.92.
Summary
Bitmine Immersion Technologies priced an upsized offering of 3.5 million shares of 9.50% Series A Perpetual Preferred Stock at $80.00 per share. This offering is expected to generate approximately $273.8 million in net proceeds. This follows the company's initial announcement on June 3rd and 4th of a proposed 3 million share offering, indicating an increase in the offering size. The capital raised will fund general corporate purposes, including acquiring more Ethereum and other digital assets, expanding staking infrastructure, and potentially repurchasing common stock. The offering is scheduled to settle on June 10, 2026.
At the time of this announcement, BMNR was trading at $16.95 on NYSE in the Crypto Assets sector, with a market capitalization of approximately $10.2B. The 52-week trading range was $3.92 to $161.00. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: PR Newswire.