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On June 10, Bitmine closed its offering (the "offering") registered under the Securities Act of 1933, as amended (the "Securities Act"), of 3,500,000 shares of 9.50% Series A Perpetual Preferred Stock (the "Series A Preferred Stock"), at a public offering price of $80.00 per share.
- The Company received net proceeds from the offering of approximately $273.8 million, after deducting the underwriting discounts and commissions and the Company's estimated offering expenses.
- The Series A Preferred Stock is expected to begin trading on the NYSE under the symbol
$BMNP beginning June 16, 2026.
The dividends for BMNP are scheduled to be paid weekly, subject to the terms of the applicable Certificate of Designations.
βThe Series A Preferred Stock offering is good balance sheet diversification for Bitmine. The Companyβs current projected annualized staking rewards of approximately $219 million provide recurring cash flow to support the dividends related to the Series A Preferred shares,β
stated Thomas βTomβ Lee, Chairman of Bitmine.