BMNP — BitMine Immersion Technologies Preferred Stock

BMNP is BitMine Immersion Technologies' Series A Perpetual Preferred Stock, listed on the NYSE in June 2026. It pays a 9.50% annual dividend distributed weekly in cash — making it one of the first publicly listed securities to offer weekly dividend payments. Dividends are cumulative: any unpaid amount accumulates and must be settled before common dividends can be declared.

As preferred stock, BMNP sits above common equity in BitMine's capital structure. The instrument includes call provisions allowing the company to redeem shares at 110% of the $100 par value in the first 18 months, stepping down to 105% between 18 months and 3 years, then at par thereafter. These premiums are designed to compensate holders for early redemption risk. Unpaid dividends compound weekly at the stated rate plus a 5 basis point step-up per missed period, capped at 15% per annum.

BitMine Immersion Technologies (common stock: BMNR) is an Ethereum-focused digital asset company. Through its MAVAN staking infrastructure platform, BitMine operates Ethereum validators and staking nodes, generating yield from network validation rewards. The company plans to deploy proceeds from the BMNP offering into ETH acquisition and expanded staking infrastructure, positioning itself as an Ethereum treasury company.