Bitmine Immersion Technologies is reaching for more Ethereum, and it’s willing to pay nearly double-digit yields to get it.
The NYSE-listed firm (ticker: BMNR) announced plans to issue 3 million shares of 9.50% Series A Perpetual Preferred Stock, priced at a stated value of $100 each. If fully subscribed, the offering would generate up to $300M in gross proceeds. The new shares are expected to trade on the NYSE under the ticker BMNP, pending approvals.
The primary use of proceeds: buying more ETH, expanding staking infrastructure, and potentially repurchasing common stock.
The numbers behind Bitmine’s Ethereum war chest
As of early June 2026, Bitmine holds roughly 5.42 million ETH. That stash represents approximately 4.3% to 4.5% of Ethereum’s total supply, valued somewhere between $10B and $11.6B depending on the day.
