Key Notes

Kerrisdale argued that BitMine’s aggressive BMNR equity issuance, of over $10 billion, is losing effectiveness.

It pointed out issues such as slower ETH-per-share growth and fading investor enthusiasm that once mirrored MicroStrategy’s model.

Analyst Donald Dean observed short-term weakness and a possible retest near $56 support.

BitMine Technologies (NASDAQ: BMNR) stock has once again come onto short-sellers’ radar after a staggering 17,000% year-to-date rally. Short-selling firm Kerrisdale Capital has recently published a report declaring its short position on the BMNR stock, noting that the ETH ETH $4 372 24h volatility: 2.5% Market cap: $527.60 B Vol. 24h: $39.89 B treasury firm is “overvalued” and that the company’s NAVG premium is collapsin

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