Tom Lee’s $9B Ethereum Loss Spurs Bitmine’s $300M 9.5% Preferred Offering
MSTR•MSTR•MSTR•MSTR•Tom Lee's ethereum bet shows nearly $9B losses as Ether dips below $1,800 per coin. Rival Bitmine unveils $300M preferred stock offering at 9.5% yield, lower than MicroStrategy's 11.5% cost of capital, to fund ETH staking at 3% yield.
Tom Lee’s firm is carrying nearly $9 billion in unrealized losses after Ethereum’s price slid below $1,800. His continued bullish target of $250,000 per ETH contrasts sharply with the current downward pressure on crypto valuations.
Bitmine plans a $300 million preferred stock issue yielding 9.5%, earmarked for Ethereum staking that generates roughly 3% annual returns. This structure offers a lower cost of capital compared with MicroStrategy’s recent 11.5% debt issuance and introduces a built-in yield feature absent in Bitcoin holdings.
