Tom Lee's Bitmine to offer preferred stock with 9.5% dividend, seeking to raise $300 million
Key takeaways
- Securities and Exchange Commission (SEC), the company is offering 3 million shares of its Series A Perpetual Preferred Stock at a stated value of $100 per share.
- The preferred shares will be listed on the New York Stock Exchange (NYSE) under the ticker BMNP, subject to approval, BitMine said.
- The offering comes as digital asset treasury firms, recently under pressure from the downturn in crypto prices, explore new funding sources.
The largest Ethereum treasury firm is taking a page from Michael Saylor's Strategy to issue preferred shares to tap new sources of funding.By Krisztian Sandor|Edited by Nikhilesh De Updated Jun 3, 2026, 10:35 p.m. Published Jun 3, 2026, 10:18 p.m. 2 min read Make preferred on Tom Lee, chairman of Bitmine and cofounder of Fundstrat, speaking at Consensus 2026 in Miami (CoinDesk)What to know: Bitmine is offering perpetual preferred stocks with a 9.5% annual dividend, aiming to raise up to $300 million, a company filing shows.The firm is following the steps of bitcoin-centric peers like Michael Saylor's Strategy to tap new sources for funding digital asset treasuries.The preferred shares will be listed on the New York Stock Exchange (NYSE) under the ticker BMNP.BitMine Immersion Technologies (BMNR), an Ethereum treasury company led by Fundstrat co-founder Tom Lee, is borrowing a page from Strategy's financing playbook and launching a $300 million preferred stock offering as crypto treasury firms search for new ways to secure funding.
According to a Wednesday filing with the U.S. Securities and Exchange Commission (SEC), the company is offering 3 million shares of its Series A Perpetual Preferred Stock at a stated value of $100 per share. The securities carry a 9.5% annual dividend rate, with dividends paid weekly in cash if declared by the company's board.
The preferred shares will be listed on the New York Stock Exchange (NYSE) under the ticker BMNP, subject to approval, BitMine said.