# BitminePlans300MPreferredStockOffering

On June 3, Bitmine filed with the SEC to issue 3 million shares of 9.5% Series A perpetual preferred stock at $100 per share, seeking to raise approximately $300 million under the ticker BMNP. Proceeds will be used to acquire more ETH, expand staking infrastructure, and repurchase common stock. The company currently holds about 5.42 million ETH (approximately $10.8 billion), representing 4.49% of total supply, with unrealized losses exceeding $8.5 billion. Whether the 9.5% fixed dividend will attract investors remains to be seen.