Bitmine (NYSE-BMNR) $ETH
@BitMNR
The alchemy of 5% of ETH | NYSE | Thomas (“Tom”) Lee Chairman @fundstrat
Joined August 2023
300 Following 66.6K Followers
Yes. We have a perpetual preferred stock
$BMNP
Did you know that BitMine has a $STRC-like preferred stock, except it's backed by Ethereum?
Ticker: $BMNP
It currently offers a 9.5% dividend and is trading well below par ($100). I doubt ETH will even compound at 9.5% annually going forward, so to me this is completely insane.
I think the dividend will need to reach something closer to 15% for it to trade at par, given the additional risk of Ethereum.
A dividend that is not sustainable.
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