Bitmine Issues 300 Million in Perpetual Series A Preferred Shares at 9.5% Annual Dividend on June 4

According to SEC filing, Bitmine Immersion Technologies announced on June 4 the issuance of 3 million Series A perpetual preferred shares at $100 per share, raising $300 million total. The shares carry a 9.5% annual dividend paid weekly in cash. Dividends accrue continuously even if the company does not declare distributions or lacks available funds.

Bitmine retains redemption rights: within 18 months of issuance, shares may be redeemed at 110% of face value; between 18 months and 3 years at 105%; after 3 years at 100%. All redemptions include accrued unpaid dividends.