BitMine targets Ethereum stash with 9.5% dividend share offering

Tom Lee’s BitMine is officially borrowing from the MicroStrategy playbook to stack its crypto reserves. The firm just priced an upsized preferred share offering designed to pivot its balance sheet toward Ethereum. These shares aren't just a bet on price action; they come with a hefty 9.5% annual dividend to lure investors who want yield alongside their digital asset exposure. By issuing equity to buy spot ETH, BitMine is testing whether the market has the same appetite for Vitalik Buterin’s token as it does for Michael Saylor’s Bitcoin-hoarding strategy. This move signals a shift in how public companies view the second-largest cryptocurrency as a primary treasury asset. If the offering clears as planned, BitMine will join a small but growing cohort of firms using traditional capital markets to fund massive on-chain bets. Will Wall Street bite on a 9.5% payout while Ethereum’s price remains volatile?