Bitmine adds another $136 million of ether after raising $274 million in preferred stock sale
Tom Lee’s Ethereum treasury firm, through the preferred stock sale, is using a financing tool pioneered by Michael Saylor’s bitcoin treasury firm Strategy.
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Summary
- Bitmine purchased 76,881 ETH last week, worth roughly $136 million at current prices.
- The firm recently closed a $274 million preferred stock offering and plans to list the shares on the NYSE.
- Chairman Tom Lee said that Bitmine’s Ethereum staking revenue provides support for preferred equity dividend payments.
