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

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