Bitmine files to sell $300M of 9.5% preferred stock for ETH treasury capital

Bitmine filed a June 3 preliminary prospectus to sell 3 million shares of 9.50% Series A perpetual preferred stock with a $100 stated amount, effectively targeting $300 million before fees. The preferred accumulates cash dividends weekly when declared, and proceeds can go toward buying more ETH, expanding MAVAN staking and validator infrastructure, Ethereum ecosystem investments, working capital, or common-stock buybacks. Bitmine is packaging its ETH treasury and staking yield into another TradFi wrapper after reporting 4.47 million ETH held on Feb. 28 and about 4.7 million ETH staked through MAVAN by May 25.

TLDR by @Benthic

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