On June 5, BitMine Immersion Technologies announced an increase in the issuance of its 9.5% Series A perpetual preferred shares from 3 million shares to 3.5 million shares, with an issue price of $80 per share, expecting net proceeds of approximately $273.8 million, planned for settlement on June 10. The company stated that the funds raised will be used to acquire more ETH and other digital assets, expand staking and validation infrastructure (including the MAVAN network), and for strategic investments. The preferred shares have been applied for listing on the New York Stock Exchange under the ticker 'BMNP'.
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BitMine Initiates Self-Rescue? Expands Issuance of Perpetual Preferred Shares, Expected Net Proceeds of Approximately $273.8 Million
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