Bitmine Launches 9.5% Preferred Stock Offering to Fuel Ethereum Treasury Strategy Amid $9 Billion Unrealized Losses
Bitmine plans to raise up to $300 million through 3 million shares of 9.5% Series A Perpetual Preferred Stock.
Proceeds targeted for additional ETH acquisitions, staking expansion via MAVAN, and general corporate purposes.
Company holds over 4.5% of ETH supply with ~$9 billion in unrealized losses as prices hover near recent lows.
Move mirrors Michael Saylor’s Strategy Bitcoin treasury approach but applied to Ethereum.
Bit…
White Hat Hacker Unlocks $2 Million in ETH Trapped for Nine Years in 2016 ICO Smart Contract
A pseudonymous white hat developer known as 0xflorent recovered roughly 1,003.62 ETH (about $2 million) locked in a 2016 HongCoin ICO contract.
The funds, belonging to 48 original investors, became trapped due to a bug in the refund mechanism after the project failed to meet its funding goal.
The recovery exploited an integer overflow flaw in an admin function, executed in coordination with the project team.
Investors can now clai…
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