Jun. 5, 2026
NORWALK, Conn., June 5, 2026 /PRNewswire/ — Bitmine Immersion Technologies, Inc. (NYSE: BMNR) (the “Company”) today announced the pricing of its upsized offering (the “offering”) registered under the Securities Act of 1933, as amended (the “Securities Act”), on June 4, 2026 of 3,500,000 shares of 9.50% Series A Perpetual Preferred Stock (the “Series A Preferred Stock”), at a public offering price of $80.00 per share. This reflects an upsizing of the previously announced offering of 3,000,000 shares of Series A Preferred Stock. The issuance and sale of the Series A Preferred Stock are scheduled to settle on June 10, 2026, subject to customary closing conditions.
The Company estimates net proceeds of approximately $273.8 million after deducting underwriting discounts, commissions, and estimated offering expenses. The Company intends to use the proceeds for general corporate purposes, which may include acquiring additional ETH and other digital assets, expanding staking and validator infrastructure through MAVAN, working capital, strategic investments aligned with the Ethereum ecosystem and broader digital asset adoption, and repurchases of common stock under its share repurchase program.
