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Tom Lee’s Bitmine to offer preferred stock with 9.5% dividend, seeking to raise $300 million
The largest Ethereum treasury firm is taking a page from Michael Saylor’s Strategy to issue preferred shares to tap new sources of funding.
Jun 3, 2026, 10:18 p.m. 2 min read
What to know:
- Bitmine is offering perpetual preferred stocks with a 9.5% annual dividend, aiming to raise up to $300 million, a company filing shows.
- The firm is following the steps of bitcoin-centric peers like Michael Saylor’s Strategy to tap new sources for funding digital asset treasuries.
- The preferred shares will be listed on the New York Stock Exchange (NYSE) under the ticker BMNP.
The preferred shares will be listed on the New York Stock Exchange (NYSE) under the ticker BMNP, subject to approval, BitMine said.
The offering comes as digital asset treasury firms, recently under pressure from the downturn in crypto prices, explore new funding sources. Strategy (MSTR), the largest corporate holder of bitcoin, introduced various classes of preferred equities. Bitcoin treasury peers Strive (ASST) and Metaplanet also issued dividend-paying preferred stocks.
Bitmine is aiming to bring that playbook to its Ethereum treasury strategy, according to the filing.
