BitMine Expands Series A Perpetual Preferred Stock Offering to 3.5M Shares, Raising $273.8M

According to BlockBeats, on June 5, BitMine Immersion Technologies expanded its Series A perpetual preferred stock offering from 3 million to 3.5 million shares at $80 per share, raising an estimated net $273.8 million with settlement expected on June 10.

The company plans to deploy the proceeds to increase holdings in ETH and other digital assets, expand staking and validation infrastructure including the MAVAN network, and pursue strategic investments. The preferred stock has applied for listing on the New York Stock Exchange under ticker "BMNP."