Bitmine’s latest fundraising round has expanded to 3.5 million shares—it's clearly aiming to go all-in on ETH staking infrastructure. After BMNP is listed on the New York Stock Exchange, institutional capital is expected to flow in. How many rewards the Mavan network nodes can capture is worth watching.

Coin.com News: Bitmine Immersion Technologies announced that the issuance size of its 9.5% Series A perpetual preferred stock has been increased from 3 million shares to 3.5 million shares, with an issue price of $80 per share. The company expects net proceeds of approximately $273.8 million, with settlement planned for June 10. The company said the proceeds will be used to increase holdings of ETH and other digital assets, expand its staking and validation infrastructure (including the Mavan network), and make strategic investments. The preferred stock has applied to be listed on the NYSE under the ticker symbol “BMNP.”