BitMine Immersion Technologies, Inc. is trading 5.3% up at $17.79 today after announcing a 3,000,000-share preferred stock offering to fund additional Ethereum (ETH) purchases.
- The offering consists of 9.50% Series A perpetual preferred stock, with proceeds also intended for general corporate purposes.
- The stock is gaining despite broader weakness in the cryptocurrency market as investors focus on the company's plan to expand its Ethereum exposure.