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The $BMNR team is getting very creative with how they raise cash to finish buying $ETH. They are issuing $300 million of preferred shares (that are not convertible to common stock - therefore not dilutive) that will pay a 9.5% annual dividend. With current annual staking revenues being about $300 million, they will likely pay the 9.5% dividend (~$30 million annually) from this staking yield. Theses preferred shares will be able to be bought back at any time by Bitmine. This gives the company fl…
