BMNR has issued a preferred stock product BMNR, similar to STRC. The first batch will raise 300 million at a price of 100 yuan per share for 3 million shares, with a 9.5% annual interest rate, paying interest weekly, and requiring an annual payment of $28.5 million in perpetual dividends.
Currently, ETH staking rewards (currently about 2.7%) bring BMNR $296 million annually, meaning 10% of that income will be used for interest payments.
Finally, there is a new financing toolbox beyond ATM. Of course, there are also risks. If the ETH price reaches about $1,200, staking rewards will be unable to cover the debt.
$BitMine Immersion Tech(BMNR.US)
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