Monitor the initial trading of BMNP on the NYSE within 30 days; the 9.5% yield relative to prevailing interest rates and the company's ability to sustain dividends through staking revenue will determine the preferred stock's market value. The $273.8M capital raise supports the ETH accumulation strategy but adds fixed dividend obligations.
Price Chart
Executive Summary
Bitmine Immersion Technologies is offering 3,500,000 shares of 9.50% Series A Perpetual Preferred Stock at $80.00 per share, raising approximately $273.8 million in net proceeds. The preferred stock carries a $100 stated amount, pays cumulative weekly dividends at 9.50% per annum, and is redeemable at the company's option at premiums starting at 110%. Proceeds will be used for general corporate purposes including ETH acquisition and staking infrastructure expansion. Listing on the NYSE under ticker BMNP is pending within 30 days of issuance.
Key Facts
- Offering: 3,500,000 shares of 9.50% Series A Perpetual Preferred Stock at $80.00 per share
- Net proceeds to company: approximately $273.8 million
- Stated Amount and initial liquidation preference: $100 per share
- Dividends: cumulative at 9.50% per annum on stated amount, payable weekly if declared
- Redemption: company may redeem at 110% of stated amount until Dec 2027, 105% until June 2029, then 100%
- Listing: applied to NYSE under symbol BMNP, trading expected within 30 days of issuance
- Settlement: June 10, 2026 (T+3)
- Underwriters: Moelis & Company and Cantor Fitzgerald
Financial Impact
$273.8 million net proceeds added to cash and equivalents
Risk Factors
- Potential inability to pay dividends due to ETH price decline or staking yield compression
- No established trading market yet; listing approval not guaranteed
- Dilution of common equity if proceeds used for share repurchases as permitted
- High 9.5% dividend rate creates fixed cash outflow
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001493152-26-027521 |
| Exhibit: ex107.htm | 0001493152-26-027521 |
| Document: 0001493152-26-027521-index-headers.html | 0001493152-26-027521 |
| Document: 0001493152-26-027521-index.html | 0001493152-26-027521 |
| Document: 0001493152-26-027521.txt | 0001493152-26-027521 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 18d ago | 8-K | $25.76 $23.60 | ▼ −8.39% | ▼ −7.93% | $28.10 (+9.10%) |
Aug 31, 2026 4w ago | 8-K | $25.32 $23.37 | ▼ −7.70% | ▼ −7.01% | $28.10 (+11.00%) |
Aug 24, 2026 5w ago | 8-K | $24.14 $24.82 | ▲ +2.82% | ▲ +2.50% | $28.10 (+16.43%) |
Aug 17, 2026 6w ago | 8-K | $18.73 $18.28 | ▼ −2.40% | ▼ −1.73% | $28.10 (+50.05%) |
Aug 14, 2026 7w ago | 8-K | $18.08 $18.73 | ▲ +3.60% | ▲ +4.07% | $28.10 (+55.45%) |
Aug 10, 2026 7w ago | 8-K | $18.10 $18.09 | ▼ −0.06% | ▲ +0.26% | $28.10 (+55.28%) |
Aug 3, 2026 8w ago | 8-K | $17.42 $18.10 | ▲ +3.90% | ▲ +2.10% | $28.10 (+61.34%) |
Jul 27, 2026 9w ago | 8-K | $17.92 $17.57 | ▼ −1.95% | ▼ −2.19% | $28.10 (+56.84%) |
Jul 20, 2026 10w ago | 8-K | $16.63 $17.23 | ▲ +3.61% | ▲ +2.77% | $28.10 (+69.00%) |
Jul 16, 2026 11w ago | 8-K | $15.44 $15.69 | ▲ +1.62% | ▲ +2.61% | $28.10 (+82.03%) |
US Market Status
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