Bitmine Immersion's $300M Preferred Stock Raise: ETH Treasury Expansion & Buyback — Leverage Impact for ETH Perpetual Traders
Bitmine Immersion's reported $300M preferred raise to buy ETH and buyback stock is directionally bullish for ETH, but arrives as ETH trades down 3.76% to $1,827.80 — creating acute liquidation risk for leveraged longs opened above $1,870 at 50x or higher.