Bitmine adds another $136 million of ether after raising $274 million in preferred stock sale

60-second summary

Bitmine, Tom Lee's Ethereum treasury firm, is securing an additional $136 million of ether through a preferred stock sale, bringing the total raised to $274 million. This financing tool, pioneered by Michael Saylor's bitcoin treasury firm Strategy, is being used to bolster Ethereum's treasury. The influx of funds will likely boost Ethereum's price and market sentiment.