Bitmine Immersion Technologies plans to issue 3 million shares of 9.50% perpetual preferred stock to acquire more ETH and expand infrastructure.
Bitmine Immersion Technologies announced a proposed offering of 3 million shares of 9.50% Series A Perpetual Preferred Stock. The company stated proceeds may be used to acquire additional ETH and other digital assets, alongside expanding staking and validator infrastructure.
The offering aims to support strategic investments in the Ethereum ecosystem and broader digital asset adoption. Funds may also be allocated for working capital and common stock repurchases. No prior comparable offering was disclosed by the company.
The move reflects Bitmine’s focus on increasing its Ethereum treasury holdings amid ongoing market activity.