BitMine Immersion Technologies, recognized as the largest corporate holder of Ethereum, has officially submitted a registration statement to the U.S. Securities and Exchange Commission for a public offering of 3 million perpetual Series A preferred shares. Priced at a par value of $100 per unit, the issuance is designed to generate $300 million in capital and features a fixed cumulative annual dividend yield of 9.5%, which will be distributed to investors in weekly cash payments.

The net proceeds from this capital raise are earmarked for broad corporate objectives, primarily focusing on acquiring additional Ethereum and other digital currencies, expanding staking and validation infrastructure such as the MAVAN project, replenishing working capital, and making strategic investments within the second-largest cryptocurrency ecosystem, while also leaving room for potential common stock repurchases. Furthermore, the company retains the right to redeem the newly issued securities for cash at a premium of 110% of the established value during the first 18 months, dropping to 105% between 18 months and three years, and 100% thereafter alongside any accrued dividends, while shareholders also hold the right to demand a buyback in the event of fundamental corporate changes.

BitMine has simultaneously requested that these new shares be listed on the New York Stock Exchange under the ticker symbol BMNP, with trading anticipated to commence within 30 days following the official issuance, with Moelis & Company and Cantor serving as joint bookrunners for the offering. This aggressive capitalization strategy follows a massive acquisition reported by the firm in May, during which it successfully purchased 111,942 ETH, marking the most significant Ethereum transaction in the company's history for the year 2026.