BitMine Immersion Technologies prices $280M preferred stock offering at $80/share

Filed June 5, 2026 · ~2 min read

Key Changes

• high

  Company is offering 3.5 million shares of 9.50% Series A Perpetual Preferred Stock at $80 per share ($100 stated amount), raising $280 million in gross proceeds before fees.

  The Offering verify on EDGAR →
• high

  Dividends will be funded primarily through ETH staking yields, Ethereum option strategies, and additional at-the-market equity offerings — not operating cash flow. Unpaid dividends compound weekly at escalating rates up to 15% annually.

  Use of Proceeds verify on EDGAR →
• high

  Company holds 4.47 million ETH valued at $8.8 billion (3.71% of circulating supply) and stakes 87% through its MAVAN platform, generating approximately $276 million in projected annualized staking revenue.

  Business view on EDGAR →