Bitmine Raises $273.8M for ETH as Sezzle Jumps on Fragile Iran Deal

Sezzle jumped 10.1% on June 15 because a deal in Switzerland promised to reopen the Strait of Hormuz. By June 18, Iran had closed it again.

Bitmine Raises $273.8 Million in Preferred Stock to Buy More Ethereum While Diluting Shareholders 213-Fold

Bitmine Immersion Technologies (NYSE: BMNR) announced on June 15 that its total crypto, cash, and “moonshot” equity holdings had reached $10.4 billion, anchored by 5,620,754 ETH, 4.66% of the entire circulating Ethereum supply. The company closed a $273.8 million net proceeds offering of 9.50% Series A Perpetual Preferred Stock on June 10, which began trading on the NYSE under the symbol BMNP on June 16.

Bitmine has staked 4,718,677 ETH, more than any other entity in the world, through its MAVAN validator network, projecting roughly $226 million in annualized staking revenue. Chairman Tom Lee says the company is “93% of the way” to its goal of owning 5% of all ETH in existence. Bitmine was named to the Fortune Crypto 100 list on June 11 and remains the largest Ethereum treasury company globally, second only to Strategy Inc. among all corporate crypto treasuries.

Here is the part that matters for anyone tracking the stock rather than the ETH pile. Bitmine’s shares outstanding have increased more than 213-fold over the past year, a level of dilution that Simply Wall St flags as a major shareholder risk. The common stock trades around $15, down roughly 48% year to date, even as the company keeps adding ETH every week. The Series A Preferred raise adds a long-term, high-cost claim ahead of common shareholders, paying a 9.5% coupon funded by staking income. Bitmine’s own ETH cost basis has also been hurt by Ethereum’s price falling from over $2,000 in late May to roughly $1,718 by June 14, meaning the dollar value of each new token purchased buys less of the eventual treasury than it did a month earlier. Filings on SEC EDGAR.

Sezzle, Affirm and SoFi Jumped on a Hormuz Peace Deal That Iran Walked Back Three Days Later

On June 15, Sezzle (Nasdaq: SEZL) jumped 10.1%, Affirm (Nasdaq: AFRM) jumped between 8.66% and 10.6%, and SoFi (Nasdaq: SOFI) gained roughly 3% to 4.5%, after President Trump announced an agreement with Iran to end the war and reopen the Strait of Hormuz. The logic behind the move was straightforward: falling oil prices and a 10-year Treasury yield dropping to its lowest level since mid-May lower the cost of funding a loan book, which is the entire business model for buy-now-pay-later and personal loan lenders.

The deal itself was real but immediately fragile. Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding at the Palace of Versailles on June 17, during the G7 summit, extending the existing ceasefire and setting a 60-day window for a permanent agreement. Then, on June 18, Iran’s military announced it had re-closed the Strait of Hormuz, citing continued Israeli strikes against Hezbollah in Lebanon and accusing the US of failing to restrain Israel. By June 21, mediators from Qatar and Pakistan said a first round of follow-up talks in Switzerland had produced only a “road map” toward a final deal within 60 days, not a resolved one.

None of the core issues, Iran’s uranium enrichment, sanctions relief, or who collects a toll on Hormuz shipping, were settled by the close of this coverage window. The Council on Foreign Relations described the memorandum as best understood as an extended ceasefire rather than a peace deal. Sezzle, Affirm, and SoFi shareholders who bought the June 15 news got a real rate-and-oil tailwind for a few days. Whether that tailwind survives past the 60-day negotiating window is a separate question entirely from anything in a quarterly earnings report. Filings on SEC EDGAR for SEZL.

Upcoming Catalysts: Bitmine ETH Treasury Updates, Iran Talks 60-Day Window, BMNP Dividend Schedule

Bitmine weekly ETH updates: the company publishes holdings updates roughly weekly. Watch the pace of acquisition slowing or accelerating against ETH price, and whether the 5% supply target gets reached or quietly pushed out.

Bitmine BMNP dividends: the first weekly dividends on the Series A Preferred are scheduled to begin in early July. Any disruption to that schedule would be a meaningful signal about the staking income covering the coupon.

Iran-US 60-day window: the road map agreed June 21 sets a deadline within roughly two months. Any further closure of the Strait of Hormuz, breakdown in Lebanon, or formal final agreement will move oil prices and, by extension, lending-sensitive fintech stocks again.

Sources

Editorial Disclosure

This roundup is based entirely on publicly available information including press releases, SEC filings, and contemporaneous news coverage. Securities discussed include Bitmine Immersion Technologies, Inc. (NYSE: BMNR), Sezzle Inc. (Nasdaq: SEZL), Affirm Holdings, Inc. (Nasdaq: AFRM), and SoFi Technologies, Inc. (Nasdaq: SOFI). aktiego.com has not received any compensation from any company mentioned, their management, investor relations representatives, or any third party. No staff member or principal of aktiego.com holds a position in any security mentioned at the time of publication. Bitmine’s press release date is confirmed as June 15, 2026 via PRNewswire. The Sezzle, Affirm, and SoFi share price moves referenced are confirmed as occurring June 15, 2026 via multiple financial news sources; these were market reactions to a geopolitical announcement and not company-specific press releases. Bitmine’s market capitalization of approximately $8.6 billion is above the typical size threshold for this roundup and is noted accordingly. Bitmine’s shares outstanding have increased substantially over the past year, representing significant dilution risk to existing common shareholders; the company’s common stock was down approximately 48% year to date at the time of publication despite the growth in underlying ETH holdings. Ethereum’s price declined from over $2,000 in late May 2026 to approximately $1,718 by June 14, 2026, which affects the dollar value and cost basis of Bitmine’s ongoing acquisitions. Bitmine’s Series A Preferred Stock (NYSE: BMNP) dividend payments are scheduled but not guaranteed and depend on the company’s staking income and financial condition. Regarding the Iran-United States agreement referenced in this article: a memorandum of understanding was signed June 17, 2026, but as of June 21, 2026, the agreement had not resolved core disputed issues including Iran’s uranium enrichment program, sanctions relief mechanics, and toll arrangements for Strait of Hormuz shipping. Iran’s military announced a re-closure of the Strait of Hormuz on June 18, 2026, citing continued Israeli military action in Lebanon, before a subsequent round of talks produced a further negotiating road map on June 21, 2026. Readers should not assume the geopolitical situation referenced in this article remains static; aktiego.com encourages readers to verify the current status of the Iran-US negotiations and Strait of Hormuz shipping conditions independently, as this is a rapidly evolving situation. These are speculative investments carrying significant risk including potential total loss of capital. Digital assets are highly volatile. Coverage on aktiego.com is provided for informational and educational purposes only. aktiego.com is not a registered investment advisor. Nothing in this article constitutes financial, investment, or professional advice. Readers are encouraged to conduct their own due diligence and consult a qualified financial advisor before making any investment decisions. For more information please see our full DISCLAIMER.

Bitmine Raises $273.8M for ETH as Sezzle Jumps on Fragile Iran Deal

Join our Mailing List