BitMine Offers $300 Million in Preferred Stock to Fund Ethereum Strategy
BitMine plans to raise $300 million through a preferred stock offering to support its Ethereum strategy, according to Crypto Adventure. The company intends to issue 3,000,000 shares of 9.50% Series A Perpetual Preferred Stock, which ties funding to cash dividends and Ethereum accumulation.
BitMine announces its plan to offer 3,000,000 shares of 9.50% Series A Perpetual Preferred Stock. If sold at their stated value of $100 each, this offering could raise approximately $300 million. The preferred shares will feature an initial liquidation preference, providing investors a more stable income stream.
This effort aims to create a dedicated funding source for Tom Lee's Ethereum treasury company, focusing on cash dividends and ETH accumulation. As BitMine turns to preferred stock, it highlights a trend where traditional financial instruments are utilized in the cryptocurrency space to attract capital.
Summary based on original reporting by Radu B at Crypto Adventure, originally published Jun 4, 2026. SolanaWire does not republish source content.
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