BitMine wants as much as $300 million to build out its Ethereum strategy, and it’s not doing it the usual way. Instead of just buying ETH outright or selling more common shares, the company is raising the money through preferred stock.
The plan is up to 3 million Series A perpetual preferred shares at $100 each, with a 9.5% annual cash dividend. In plain English, that means investors who buy these shares are being offered a steady payout, while BitMine gets fresh capital for its crypto push.
Preferred stock sits in the middle ground between debt and common equity. It’s designed to look more like an income product than a pure growth bet, and it doesn’t hit ordinary shareholders the same way a common-stock sale would.
BitMine says the money can go toward more ETH, staking, and validator infrastructure. The company is trying to fund an Ethereum treasury with a yield-style security, not just with cash on hand.