BitMine Immersion Technologies is seeking $300 million through a preferred stock sale that would pay a 9.5% annual dividend and, if approved, be listed on the New York Stock Exchange. The filing gives the Tom Lee-led company fresh money it can use to add more Ether while tying investor returns to a board-declared cash payout. Related Reading: XRP Is The Clear Winner For Transactions, According To Peter Brandt A New Way To Fund Ether Buying The company said it plans to sell 3 million shares at $100 each, according to a supplement filed with the SEC. BitMine also said the dividend would be paid in cash if the board declares it, which makes the structure different from a simple one-time stock sale. The filing goes further than a normal fundraising note. BitMine said its business strategy is now centered on the Ethereum blockchain, ETH, staking, validator infrastructure, and treasury management. Tom Lee / @BitMNR just filed to raise $300M through 9.5% preferred stock while ETH is breaking down. This looks like a deliberate move to accelerate accumulation. They likely plan to use their current cash to buy $ETH aggressively right now, while the preferred offering… https://t.co/uLrPN3KKkE — SolarEtherPunk.eth???? (@SolarEtherPunk) June 4, 2026 That gives the raise a clear purpose. Based on the filing, the preferred stock is meant to support BitMine’s push to keep building its Ether holdings rather than sit as idle capital. Ethereum Exposure Comes With Strings BitMine warned that its results remain closely linked to Ether’s price, staking economics, regulation, and counterparty risk in digital asset operations. The company is taking in new capital, but it is also making a bigger public bet on the token’s next move. The company said it intends to seek a New York Stock Exchange listing for the preferred shares, with a ticker to be announced later. Reports also pointed to rising institutional interest in Ethereum after US spot Ether ETFs and BlackRock’s move into tokenized financial products. A Trend Borrowed From Bitcoin Treasury Plays The move follows a pattern that has already appeared in other crypto-heavy public companies. Strategy’s STRC and Strive’s SATA have shown how preferred stock can be used to raise cash while keeping the market focused on digital asset exposure. Related Reading: XRP Dips In The Short Run, But A Bigger Setup May Be Forming: Analyst Strive recently increased its ASST and SATA offerings by $2.1 billion apiece, while a vote on Strategy’s STRC semi-monthly dividend proposal was set to end on June 8. BitMine’s version shifts that same financing model toward Ether instead of Bitcoin. For now, the pitch is plain. Pay a high yield, raise new capital, and keep adding to Ethereum. The filing lays out the upside and the risk in the same breath. At the time of writing, Ethereum was trading at $1,745, down 12% in the last week, data from Coingecko shows. Featured image from Pexels, chart from TradingView
In an initiation note, Benchmark said the company has "one of the most differentiated capital structures in the bitcoin treasury sector."
Strive is preparing to expand its capital-raising capacity by $4.2 billion as the Bitcoin treasury company looks to fund additional BTC purchases, extending one of the fastest accumulation campaigns among public corporate holders. Chief executive Matt Cole said the company expects to increase the size of both its ASST and SATA at-the-market programs by $2.1 billion each. The proposed expansion would give Strive substantially more flexibility to issue securities into the market and direct proceeds toward its Bitcoin strategy, though ATM capacity does not mean the full amount has already been raised. “Strive expects to increase the size of both the ASST and SATA ATM programs by $2.1 billion each, reflecting a sustained increase in liquidity and demand for both securities. We will provide a balance sheet update tomorrow pre-market,” Cole wrote on X. Related Reading: Weiss Crypto Says Best Bitcoin Buying Opportunity In Years May Be Near The announcement comes shortly after Strive raised approximately $194 million through its SATA preferred stock offering last week, equivalent to about 2,621 BTC at current market prices. The company currently holds approximately 16,500 BTC, valued at roughly $1.27 billion, placing it among the largest public Bitcoin treasury companies. Based on BitcoinTreasuries.net’s public-company leaderboard, Strive ranks seventh among listed corporate Bitcoin holders with 16,500 BTC. The firms ahead of it are Strategy, by far the largest holder with more than 843,000 BTC, followed by Twenty One Capital, Metaplanet, MARA Holdings, Bitcoin Standard Treasury Company and Bullish. SATA Becomes The Bitcoin Funding Engine SATA has become central to that model. Strive launched the Variable Rate Series A Perpetual Preferred Stock in November 2025, with the IPO upsized to 2 million shares from an initially targeted 1.25 million shares. At the time, the company said it had acquired 1,567 BTC at an average price of $103,315 and held 7,525 BTC as of November 10, 2025. Related Reading: Strategy Sells Bitcoin For First Time Since 2022 Tax-Loss Trade “The successful IPO of the SATA Stock makes Strive the first Bitcoin treasury company to finance its Bitcoin amplification exclusively through perpetual preferred equity, and the second overall, after Strategy, to issue a publicly traded perpetual preferred equity security,” Cole said at the time. “While Strive only went public in September, we’ve quickly shown the market both the speed and the precision our team operates with to drive long-term value to our shareholders, with Bitcoin as our hurdle rate.” The product has since become a larger part of Strive’s capital stack. The company’s website says SATA’s 13% APR monthly dividend schedule is set to transition to payments every business day beginning June 16, 2026, increasing the dividend frequency from 12 payments per year to roughly 250 payments per year. Strive has also said it targets a $99 to $101 trading range for SATA and holds cash and marketable securities in reserve for dividend payments. Strive CIO Ben Werkman wrote via X late Monday: “More than $100M in volume on the ex-dividend date, with a closing price of $99.56, down just 0.44% from par. Continued progress for SATA.” At press time, BTC traded at $69,894. Featured image created with DALL.E, chart from TradingView.com
Vivek Ramaswamy-founded Strive now ranks as the seventh-largest public corporate bitcoin holder, trailing Bullish.
Analysts at Benchmark, TD Cowen, and Mizuho hold buy ratings on Bitdeer, Strive, DeFi Technologies, and Gemini amid infra and markets pivots.
Strive said SATA will become the first U.S.-listed security to pay cash dividends every business day as its BTC holdings climb.
Strategy Inc is looking to shift toward semi-monthly dividend payouts that could start as early as mid-July.
TD Cowen cut its Strategy price target to $350 on lower bitcoin assumptions while assigning buy ratings to four digital asset treasury firms.
Utilizing the ATM structure, Strive gains the flexibility to sell shares directly to the market at prevailing prices over a period.
Strive said the proposal could lead to uneven results worldwide because companies report Bitcoin differently under various accounting rules.
Asset manager Strive has reached an agreement to purchase Bitcoin-focused Semler Scientific in a fully equity-based rather than cash-based deal. Under the terms announced Sept. 22, each Semler Scientific share will convert into 21.05 Strive Class A common shares, valuing the target at $90.52 per share. That price represents a premium of more than 200% […]
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Strive has agreed to acquire Semler Scientific in an all-stock merger, become a 10,900+ BTC treasury amid DAT consolidation.
Strive Asset Management Firm has partnered with 117 Castell Advisory Group to acquire distressed Bitcoin claims, including those linked to the long-defunct Mt. Gox exchange. According to a May 20 filing with the US Securities and Exchange Commission (SEC), the firms will target claims that have received definitive legal rulings but are still awaiting distribution. […]
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Strive Asset Management has agreed to merge with Asset Entities Inc., setting the stage for a bold transition into a Bitcoin-focused treasury company. According to a May 7 statement, the deal will see the combined firm operate under the Strive name and continue trading on NASDAQ. The firm said the move would create the first […]
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Vivek Ramaswamy’s Strive Asset Management is joining the ETF bandwagon by formally filing the Strive Bitcoin Bond ETF with the Securities and Exchange Commission (SEC). In a 475A filing submitted on December 26th, Strive aims to leverage the changing investment landscape favoring Bitcoin, digital assets, and the blockchain. Related Reading: Bitcoin Preparing For Its Next […]
The fund aims to offer exposure to MicroStrategy's convertible bonds, among others.