Bitmine Immersion holds $9.65B in Ethereum treasury

Bitmine Immersion holds $9.65 billion in Ethereum, the largest corporate ETH treasury, with 5.62 million ETH staked for 2.99% yield. BMNR issued 9.50% Series A Perpetual Preferred Stock, raising $280 million but adding a $350 million senior claim and dividend obligations. The stock trades at a 2.6% discount to adjusted NAV.