BitMine Prices Preferred Shares With 9.5% Dividend to Fund Ethereum Purchases

BitMine has priced preferred shares with a 9.5% dividend in an upsized offering intended to raise funds for Ethereum purchases, according to Decrypt. The company is adopting a financing approach that resembles Strategy’s Bitcoin treasury playbook, but with Ethereum as the target asset.

The development matters because it shows how crypto treasury strategies are continuing to spread beyond Bitcoin. By using preferred shares to fund digital asset accumulation, BitMine is testing whether a structure associated with Strategy’s Bitcoin strategy can be adapted for an Ethereum-focused corporate treasury.

The offering gives BitMine another way to raise capital without relying solely on common equity or direct borrowing. For investors and market watchers, the key feature is the preferred share’s stated 9.5% dividend, which sets it apart from a straightforward stock sale.

BitMine’s plan also underlines Ethereum’s role as a treasury asset for some crypto-linked companies. While Bitcoin has been the better-known corporate reserve asset, BitMine’s move frames Ethereum as the center of its own treasury strategy.

The company’s next test will be whether the preferred-share structure helps it scale Ethereum purchases while maintaining market confidence. The offering does not change the risks tied to crypto treasury strategies, including exposure to digital asset price swings.