Kerrisdale Capital shorts BitMine stock, criticizing a lack of innovation in its strategy
2025-10-09 13:58:05
Kerrisdale Capital announced a short position on BitMine lmmersion (BMNR) shares, criticizing its strategy (MSTR) -like model of raising funds to buy cryptocurrencies through overpriced issuance of shares in an attempt to increase the value of each token. The report pointed out that this strategy has been difficult to work after changes in market conditions. BMNR's recent large-scale issuance of new shares has led to a weakening of investor enthusiasm, a slowdown in the appreciation of ETH per share, and a continued narrowing of the net asset value premium.
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