Bitmine is looking to mimic Strategy by issuing $300 million in perpetual preferred stock, with an annual dividend of up to 9.5%
According to BlockBeats, on June 4th, Bitmine Immersion Technologies filed with the SEC to issue 3 million shares of 9.50% Series A perpetual preferred stock, with a par value of $100 per share, aiming to raise a total of $300 million. This preferred stock will accumulate dividends at an annualized rate of 9.5%, paid out weekly in cash. The company holds a call option: it can redeem at 110% of par value within 18 months, 105% between 18 months to 3 years, and at 100% after 3 years.
Why it matters: Bitmine becomes the second crypto mining company after Strategy to conduct capital operations through perpetual preferred stock, with a 9.5% annual dividend offering an unprecedented high-yield fixed-income product for the crypto sector.
#Bitmine #比特币 #矿业 #永续优先股 #Web3
According to BlockBeats, on June 4th, Bitmine Immersion Technologies filed with the SEC to issue 3 million shares of 9.50% Series A perpetual preferred stock, with a par value of $100 per share, aiming to raise a total of $300 million. This preferred stock will accumulate dividends at an annualized rate of 9.5%, paid out weekly in cash. The company holds a call option: it can redeem at 110% of par value within 18 months, 105% between 18 months to 3 years, and at 100% after 3 years.
Why it matters: Bitmine becomes the second crypto mining company after Strategy to conduct capital operations through perpetual preferred stock, with a 9.5% annual dividend offering an unprecedented high-yield fixed-income product for the crypto sector.
#Bitmine #比特币 #矿业 #永续优先股 #Web3