Bitmine said it bought 52,203 ETH in the past week, taking its Ethereum holdings to 5.67 million ETH valued at about $9.8 billion and total treasury assets to $10.7 billion.
Bitmine filed for a 3 million-share Series A perpetual preferred stock offering, with proceeds potentially going toward more ETH purchases and staking as its Ethereum holdings rise to 5.4 million ETH.
Bitmine upsized its Series A perpetual preferred stock offering to 350,000 shares, raising $273M net to buy more ETH and expand staking infrastructure, with a 9.5% annual dividend.
Bitmine priced an upsized Series A perpetual preferred stock offering of 3.5 million shares at $80 each, with estimated net proceeds of about $273.8 million for ETH purchases, staking infrastructure, and other corporate uses.
BitMine filed to sell $300 million in perpetual preferred stock with a 9.5% dividend as its Ethereum-heavy treasury strategy comes under closer market scrutiny.
BitMine increased its Ethereum stash to 5.62 million ETH, 4.66% of total supply. Despite a $273.8M preferred stock raise and ~$219M annual staking revenue, BMNR shares barely moved at $16.11.
Bitmine said it bought 76,881 ETH over the past week, bringing total ETH holdings to 5.62 million. The company said more than 83% of that position is staked, while total crypto and related assets reached $10.4 billion.
BitMine will enter the Russell 1000 on June 26 after disclosing 5.673 million ETH in holdings, with 4.88 million ETH staked, or about 86% of its treasury reserves.
