Bitmine to Offer 3 Million Shares of 9.50% Series A Perpetual Preferred Stock; Proceeds May Fund Additional ETH Purchases

Bitmine Immersion Technologies, which bills itself as the largest Ethereum treasury company, said it plans to launch an offering of 3 million shares of 9.50% Series A Perpetual Preferred Stock. The company said net proceeds could be used to buy additional ETH and other digital assets, expand staking and validator infrastructure including MAVAN, pursue strategic investments tied to the Ethereum ecosystem and broader digital asset adoption, support working capital needs, and repurchase common stock.