[Tom Lee's Bitmine Plans to Issue Preferred Shares to Raise $300 Million] According to CoinDesk, Tom Lee's Bitmine Immersion Technologies is issuing Series A perpetual preferred shares with an annual dividend rate of 9.5%, aiming to raise $300 million. The preferred shares have a par value of $100 per share, totaling 3 million shares. If approved, they will be listed on the NYSE under the ticker symbol BMNP, with dividends, if declared by the board, to be paid weekly in cash. Over the past year, Bitmine has accumulated more than 5.3 million ETH, accounting for approximately 4.5% of Ethereum's circulating supply. As cryptocurrency asset prices decline, the company is adopting a financing model similar to Bitcoin treasury firm Strategy, using preferred shares to expand funding sources. The documents do not specify the intended use of the funds, and the company currently faces an unrealized loss of approximately $9 billion on its ETH holdings.