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.
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