Bitmine expands preferred stock offering to raise $273.8M

Bitmine, which is facing approximately 15 trillion won (about $11.5 billion) in losses from its ETH investments, has expanded its planned preferred stock offering to raise additional capital, Foresight News reported. The company will increase its Series A perpetual preferred stock offering from three million to 3.5 million shares, aiming to raise around $273.8 million. The funds are slated for purchasing ETH and making other strategic investments.