# BitminePlans300MPreferredStockOffering


So Bitmine just dropped some big news 🚨

They’re planning to raise

300million byoffering3millionsharesof 9.5BMNP) at $100/share.

What’s the money for?
👉 Buying more ETH
👉 Expanding staking infrastructure
👉 Buying back common stock

Right now, Bitmine already holds 5.42 million ETH – that’s ~$10.8 billion worth, or about 4.5% of all ETH out there. But here’s the kicker: they’re sitting on over $8.5 billion in unrealized losses 😬

So the big question: will investors be tempted by that 9.5% fixed dividend despite the risk?

Gonna be interesting to watch. 👀
ETH4.68%
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