Bitmine Immersion Technologies Inc. (NYSE: BMNR) announced plans to offer 3 million shares of 9.50% Series A Perpetual Preferred Stock in a public offering, according to a company statement.

The company intends to use proceeds for general corporate purposes, including acquiring additional ETH and other digital assets, expanding staking and validator infrastructure through MAVAN, working capital, strategic investments in the Ethereum ecosystem, and potential share repurchases.

The Series A Preferred Stock will carry a fixed dividend rate of 9.50% per annum on a stated amount of $100 per share. Regular dividends will be payable weekly in cash when declared by the board of directors. If dividends are not paid on schedule, additional compounded dividends will accumulate at increasing rates up to a maximum of 15% per annum.

The company retains redemption rights at varying premiums based on timing: 110% of stated amount for the first 18 months, 105% from 18 months to three years, and 100% after three years, plus accumulated unpaid dividends. Holders can require repurchase during fundamental change events at the stated amount plus accumulated dividends.

The liquidation preference starts at $100 per share and adjusts based on trading prices, with a minimum floor of $100 per share. Bitmine has applied to list the preferred stock on the New York Stock Exchange under symbol "BMNP," with trading expected within 30 days of issuance if approved.

Moelis & Company and Cantor serve as joint lead bookrunners. The offering proceeds under an effective shelf registration statement filed with the Securities and Exchange Commission in July 2025.