TechFlow reported on June 14, citing PR Newswire, that BitMine’s Class A perpetual preferred stock has received approval for listing on the New York Stock Exchange. The security will trade under the ticker BMNP and is expected to officially begin trading on June 16. The approval places BitMine’s preferred stock product within the traditional exchange market structure, where it will be available for public trading under the relevant NYSE arrangements.
BMNP Set for Expected NYSE Trading Start on June 16
According to the disclosed information, BMNP is BitMine’s Class A perpetual preferred stock. The company’s announcement identifies the security type, ticker symbol and listing venue: the ticker is BMNP, and the trading venue is the New York Stock Exchange. The expected trading start date is June 16, subject to the company’s disclosure and the exchange’s listing schedule.
Initial Cash Dividend and Weekly Dividend Schedule
On dividends, BMNP carries an annualized dividend rate of 9.50%. BitMine plans to pay an initial cash dividend to shareholders at $0.316667 per share, with the payment expected to be made on June 22. The dividend will be paid to shareholders of record as of the close of business on June 12, which determines the eligible shareholder list for the first cash dividend distribution.
The company also disclosed the subsequent dividend arrangement. The weekly dividend is expected to be $0.105556 per share and is scheduled to be paid on June 26 to shareholders of record as of the close of business on June 16. As a result, June 16 is not only the date on which BMNP is expected to start trading on the NYSE, but also a key record date in the follow-up weekly dividend schedule.
As more crypto and digital-asset-related companies enter traditional capital markets, preferred stock products with fixed-income characteristics are being monitored by some investors. After BMNP lists on the NYSE, its public trading performance and market acceptance will serve as a concrete reference point for assessing this type of financing instrument linked to digital-asset-related companies.