BitMine: Prices Preferred Shares With 9.5% Dividend

BitMine priced its preferred shares offering with a 9.5% dividend to fund Tom Lee's Ethereum treasury strategy. The move arrives while ETH trades at $1563.76 on the 4h chart inside a bearish structure defined by EMA50 at $1882.2 and EMA200 at $2092.37. Momentum shows RSI(14) at 14.68, deep in oversold territory, and MACD at -88.69 confirming the death cross. Price is testing the lower Bollinger support at $1583.81 with upper resistance at $1978.04. Institutional desks note that sustained pressure below the 50-EMA keeps downside bias intact until a reclaim of $1882 opens room for mean reversion. Ethereum treasury strategy, preferred shares dividend, and ETH technical analysis now dominate short-term flows as miners and funds rotate exposure.