BitMine, an Ethereum treasury firm led by Tom Lee, is offering preferred stock to raise $300 million [1, 2].
The move signals a growing trend of corporate entities using equity markets to aggressively accumulate digital assets. By leveraging preferred shares, BitMine aims to secure a significant capital injection without the immediate volatility associated with direct token purchases.
According to the announcement made on June 3, 2026, the preferred stock carries a 9.5% dividend [1]. This financial structure provides investors with a fixed return while allowing the company to utilize the proceeds for its core strategy, buying more Ethereum [1, 2].
BitMine is modeling this approach after the strategy used by Michael Saylor, who utilized similar preferred-share offerings to build a massive Bitcoin treasury for MicroStrategy [1, 2]. The U.S.-based firm is attempting to replicate that success within the Ethereum ecosystem.
The company is seeking a total of $300 million [1] to expand its holdings. This strategy allows the firm to tap into traditional finance funding sources to fuel its crypto-centric balance sheet—a bridge between Wall Street and decentralized finance.
By offering a high dividend, BitMine attracts investors who seek yield while gaining indirect exposure to the price movements of Ethereum. This method avoids the need for the company to sell existing assets to fund growth, instead creating a new layer of capital to drive acquisition.
“BitMine is offering preferred stock that carries a 9.5% dividend”
This offering represents a shift in how institutional Ethereum treasuries are funded. By adopting the 'Saylor model,' BitMine is treating Ethereum as a primary reserve asset and using the public markets to create a leveraged bet on the asset's long-term appreciation, potentially encouraging other firms to adopt similar treasury strategies for different cryptocurrencies.
