Bitmine increases perpetual preferred stock offering size, expects to raise $273.8 million

Odaily Planet Daily: Bitmine Immersion Technologies announced an increase in its 9.50% Series A perpetual preferred stock offering to 3.5 million shares, priced at $80 per share, with an expected net proceeds of approximately $273.8 million. The closing is scheduled for June 10. The company intends to use the proceeds to increase its holdings of ETH and other digital assets, expand its staking and validator infrastructure through its proprietary MAVAN network, support strategic investments related to the Ethereum ecosystem, and repurchase its common stock.