Bitmine eyes dividend-paying preferred shares, echoing Strategy’s playbook

Written by Martin Young , Staff Writer.Reviewed by Felix Ng , Staff Editor.Written by Martin Young , Staff Writer.Reviewed by Felix Ng , Staff Editor.Bitmine eyes dividend-paying preferred shares, echoing Strategy’s playbookLatest NewsPublishedJun 4, 2026The move comes as Ether prices slumped to a 14-month low below $1,750 on Thursday.Ethereum treasury company Bitmine Immersion Technologies is launching a $300 million perpetual preferred stock offering, borrowing a page from Strategy’s financing playbook. Bitmine told the SEC on Wednesday that it intends to offer 3 million of its 9.5% Series A perpetual preferred stock at $100 per share, which will trade under the symbol BMNP within 30 days of issuance. Preferred shares are a hybrid of stocks and bonds. Investors are not directly betting on the company’s growth but lending it money in exchange for regular payments. For every $100 share, Bitmine will pay dividends on a weekly basis, amounting to $9.50 per year. The firm plans to use income from its staked Ether (ETH) to pay the dividends, similar to offerings from Michael Saylor’s Bitcoin treasury company, Strategy. Strategy launched its Stretch (STRC) perpetual preferred stock in July 2025. Unlike Bitmine’s BMNP, which has a fixed rate, STRC uses a variable rate that Strategy adjusts monthly with the goal of keeping the trading price stable near $100.STRC has scaled to $8.5 billion in just nine months and is now the largest preferred stock by market cap in the world, according to a May SEC filing. “Digital Credit, highlighted by STRC, has been a big success. STRC has shown strong demand, high liquidity, and low volatility,” said Phong Le, Strategy president and CEO.In March, Le said that roughly 80% of STRC holders were retail investors. Related: 80% of Strategy's ‘Stretch’ buyers are mom-and-pop investorsBitmine’s annualized staking revenue by week. Source: SECBitmine said the net proceeds of its proposed offering would be used for general corporate purposes…

Bitmine eyes dividend-paying preferred shares, echoing Strategy’s playbook

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