# BitminePlans300MPreferredStockOffering


🚨 BITMINE DROPS A $300M PREFERRED BOMB 🚨

Just filed with the SEC:
3M shares of 9.5% Series A perpetual preferred stock

100/share∣Ticker:BMNP

The twist?
Proceeds go to:
🔹 Buy MORE ETH
🔹 Expand staking infra
🔹 Repurchase common stock

But here's the elephant in the room 🐘
Bitmine already holds 5.42M ETH (~$10.8B) — that's **4.5% of total supply**
📉 Unrealized losses: **>$8.5 BILLION**

❓ Will anyone bite on 9.5% dividends when the parent is drowning in red?
ETH-1.87%
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