BitMine Stock Fluctuates After Short Seller Report Criticizes Crypto Strategy

Shares in BitMine Immersion Technologies experienced fluctuating trading throughout the day following a short seller report from Kerrisdale Capital. The report criticized the company’s strategy of acquiring Ethereum (ETH) and increasing its token-per-share ratio as unsustainable, while also questioning the effectiveness of their stock offerings. Kerrisdale claims BitMine has become reliant on frequent stock issuances to attract investors, potentially diminishing long-term investor trust.