---
title: "BMNR extreme value extrapolation 6.09"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/41616167.md"
description: "Over the past week, both BTC and ETH experienced significant declines, but for BMNR, it was still a milestone week. The company finally expanded its financing toolbox beyond ATM - the preferred stock BMNP. BMNP has a total authorized issuance of 20 million shares. The first batch was planned to issue 3 million shares at a price of 100 with an interest rate of 9.5%, paying interest weekly. The actual issuance was 3.5 million shares at a discounted price of 80, with the interest rate and payment method unchanged. Considering the downturn in the crypto market, a certain degree of discount was within expectations..."
datetime: "2026-06-09T04:07:53.000Z"
locales:
  - [en](https://longbridge.com/en/topics/41616167.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/41616167.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/41616167.md)
author: "[lyhalfway](https://longbridge.com/en/profiles/3372973.md)"
---

# BMNR extreme value extrapolation 6.09

Over the past week, both BTC and ETH experienced significant declines, but for BMNR, it was still a milestone week. The company finally expanded its financing toolkit beyond ATM - the preferred stock BMNP. BMNP is authorized for a total of 20 million shares, with the first batch initially planned to issue 3 million shares at a price of 100, with an interest rate of 9.5% and weekly interest payments. The actual issuance was 3.5 million shares at a discounted price of 80, with the interest rate and payment method unchanged. Considering the downturn in the crypto market, a certain degree of discount was expected, but exceeding the issuance quota also reflects market demand. Essentially, BMNP, like STRC, targets the fixed-income market, effectively stripping away the volatility of crypto assets and offering buyers an attractive fixed interest rate return. The difference is that STRC's interest rate is floating and adjustable, while BMNP's is fixed. For this product, BMNR has been preparing for a long time, from changing auditors to the Big Four KPMG, to moving to NYSE main board trading, all to obtain higher credit.

This financing through preferred stock BMNP raised 270 million, with settlement expected to be completed on 6.10. With this funding, management no longer needs to worry about the reduction in cash positions, buying 126,000 ETH during the sharp decline, the highest purchase volume in 26 years. Meanwhile, although ETH kept falling, BMNR's mNAV returned to 1.03, maintaining the possibility of ETH being a firm buy. Over the past few months, BMNR's fundamentals have been continuously improving: MAVAN launch, steady increase in coin hoarding and staking, listing on the NYSE main board, expansion of the preferred stock financing toolkit, and inclusion in the Russel index. The stock price decline is more due to the downturn in the underlying asset ETH and the broader crypto market. I think one cannot claim to understand it without experiencing a full cycle. Therefore, the strategy remains dollar-cost averaging, surviving in the trough, and waiting for the next cycle.

Not investment advice.

$BitMine Immersion Tech(BMNR.US)

### Related Stocks

- [ETH.US](https://longbridge.com/en/quote/ETH.US.md)
- [BMNR.US](https://longbridge.com/en/quote/BMNR.US.md)
- [BMNRD.US](https://longbridge.com/en/quote/BMNRD.US.md)
- [BTC.US](https://longbridge.com/en/quote/BTC.US.md)

## Comments (23)

- **TFY007 · 2026-06-25T00:34:55.000Z**: Uncle, why haven't you been performing lately?
- **守正出奇 · 2026-06-24T16:05:22.000Z**: @lyhalfway I've been following you since I joined Longbridge in June '24. I've always felt your insights are very deep and sharp. I took your advice and started buying in at 41 yuan in November '25. Then I kept averaging down at 32, 27, 23, and 19, with the final round at 17.8 yuan, 
  - **天大大将军(^･ｪ･^)** (2026-06-24T18:09:25.000Z): Concentrating on a single stock? And even using leverage to average down? That would concentrate the risk significantly. My position in this stock is only 1%, and I'm already feeling the pain even if 
  - **天大大将军(^･ｪ･^)** (2026-06-24T18:10:26.000Z): The volatility of coins is huge. Can you really hold on when it drops 90%? I definitely wouldn't dare to add leverage to this kind of thing.
  - **lyhalfway** (2026-06-24T23:55:10.000Z): Yesterday, BTC's low point fell below 60k. Under this trend, ETH cannot have an independent market. I think we are now in the process of finding the bottom at the tail end of the bear market. The prim
- **幸运币 · 2026-06-09T20:39:14.000Z · 👍 1**: 🥶Haven't checked in a long time, it's terrifying
- **涨辣 · 2026-06-09T16:38:57.000Z · 👍 1**: In this cycle, hopefully it can start at $10,000 each 🧐🧐
- **隔壁小河 · 2026-06-09T12:28:09.000Z**: Just buying ETH is fine too
  - **lyhalfway** (2026-06-09T13:44:06.000Z): Hmm, that's fine too.
- **超级无敌大发财 · 2026-06-09T10:12:11.000Z**: Believe there will be new highs, but it's not the time to enter the market yet.
- **9Ltm8 · 2026-06-09T08:55:47.000Z · 👍 1**: Want to see the follow-up on MAVAN
- **花有重開日 · 2026-06-09T04:49:25.000Z**: Is YBMN worth buying?
  - **lyhalfway** (2026-06-09T05:03:19.000Z): You can buy STRC first to get a feel for it.
- **糖不加咖啡 · 2026-06-09T04:21:15.000Z**: The Clear Act is probably a no-go, right?
  - **lyhalfway** (2026-06-09T04:27:27.000Z): 60%
  - **5EWolf** (2026-06-09T07:04:48.000Z): Never mind if there's any hope, BTC will be at 170k in the next cycle.
  - **LongBirdge** (2026-06-09T14:30:37.000Z): Believe in the "Power of Belief"
- **回本之路任重道远 · 2026-06-09T04:17:38.000Z · 👍 3**: All the money was lost on this.
  - **Lucky2026** (2026-06-09T05:58:01.000Z): Break even soon