Bitmine Offers 9.5% Yield On New Preferred Stock

2026-06-04 09:10:00 ET

Ethereum (CRYPTO: ) treasury company Bitmine Immersion Technologies (NYSE: ) is offering investors a 9.5% yield on its new preferred stock.

The company led by Chairman Tom Lee is borrowing a page from Strategy's (NASDAQ: ) playbook and launching a $300 million U.S. preferred stock.

The preferred stock will provide a new means of funding for Bitmine.

According to a filing with the U.S. Securities and Exchange Commission (SEC), the company is offering three million shares of its Series A Perpetual Preferred Stock at $100 U.S. per share.

The new stock carries a 9.5% annual dividend yield paid weekly in cash if declared by the company's board of directors.

The preferred stock will be listed on the New York Stock Exchange (NYSE) under the ticker symbol “BMNP.”

The offering comes as digital asset treasury firms that are under pressure from the downturn in cryptocurrency prices explore new funding methods.

Bitmine remains among the most aggressive buyers of Ethereum, accumulating more than 5.3 million ETH worth roughly $10 billion U.S. and controlling 4.5% of Ethereum's supply.

The company has a stated goal to own 5% of Ethereum’s circulating supply.

Currently, Bitmine is sitting on a $9 billion U.S. unrealized paper loss on its Ethereum holdings as the price of ETH falls below $1,800 U.S. from nearly $5,000 U.S. last August.