Kerrisdale Capital has released a short report on BitMine Immersion (BMNR), criticizing its Ethereum-centric financial model as outdated. The report highlights a decline in BitMine's stock premium from 2.0x in August to 1.2x in October, attributed to slower Ethereum price growth. Kerrisdale also questioned CEO Thomas Lee's ability to sustain investor confidence. Following the report, BitMine's stock dropped by 2%.
Kerrisdale Capital Issues Short Report on BitMine Immersion
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