{"id":98339,"date":"2026-06-04T13:48:05","date_gmt":"2026-06-04T13:48:05","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=98339"},"modified":"2026-06-04T13:48:05","modified_gmt":"2026-06-04T13:48:05","slug":"bitmines-300m-raise-is-borrowing-a-page-from-saylors-ponzi-playbook-peter-schiff-says","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=98339","title":{"rendered":"Bitmine&#8217;s $300M Raise Is &#8216;Borrowing A Page From Saylor&#8217;s Ponzi Playbook&#8217;, Peter Schiff Says"},"content":{"rendered":"<div>\n<p><strong>Peter Schiff<\/strong> says <strong>Bitmine Immersion<\/strong> <a href=\"https:\/\/www.benzinga.com\/quote\/BMNR\" target=\"_blank\" class=\"ticker-link\" data-ticker=\"BMNR\" data-exchange=\"NYSE\" rel=\"noopener\">(NYSE:<\/a><a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/BMNR\">BMNR<\/a>) is \u201cborrowing a page from Saylor\u2019s Ponzi playbook\u201d after filing to raise $300 million through preferred shares to buy more <strong>Ethereum<\/strong> <a href=\"https:\/\/www.benzinga.com\/quote\/ETH-USD\" target=\"_blank\" class=\"ticker-link\" data-ticker=\"ETH\" data-exchange=\"CRYPTO\" rel=\"noopener\">(CRYPTO: <\/a><a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/eth\/usd\">ETH<\/a>).<\/p>\n<h3 class=\"wp-block-heading\">3 Million Shares At 9.5% Yield Filing With NYSE Under BMNP<\/h3>\n<p>Bitmine <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1829311\/000149315226027136\/form424b5.htm\">filed<\/a> with the SEC to offer 3 million shares of Series A perpetual preferred stock at a fixed cumulative dividend rate of 9.5% annually on a $100 per share base.\u00a0<\/p>\n<p>Dividends pay weekly in cash, with unpaid amounts accruing compounded interest starting at 9.55% and rising by 5 basis points per period up to a maximum of 15%.<\/p>\n<p>The shares will list on the NYSE under the ticker BMNP within 30 days of first issuance. Moelis and Cantor are acting as joint lead bookrunners.\u00a0<\/p>\n<p>Proceeds will fund general corporate purposes including purchasing additional ETH and expanding staking operations.<\/p>\n<h3 class=\"wp-block-heading\">Copying Strategy\u2019s STRC But With ETH Losses &#8230;<\/h3>\n<p><a href=\"https:\/\/www.benzinga.com\/crypto\/cryptocurrency\/26\/06\/52999874\/bitmines-300m-raise-is-borrowing-a-page-from-saylors-ponzi-playbook-peter-schiff-says?utm_source=benzinga_taxonomy&amp;utm_medium=rss_feed_free&amp;utm_content=taxonomy_rss&amp;utm_campaign=channel\" alt=\"Bitmine's\" raise is a page from saylor ponzi playbook peter schiff says>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Peter Schiff says Bitmine Immersion (NYSE:BMNR) is \u201cborrowing a page from Saylor\u2019s Ponzi playbook\u201d after filing to raise $300 million through preferred shares to buy more Ethereum (CRYPTO: ETH). 3 Million Shares At 9.5% Yield Filing With NYSE Under BMNP Bitmine filed with the SEC to offer 3 million shares of Series A perpetual preferred [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-98339","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/98339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=98339"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/98339\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=98339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=98339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=98339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}