BitMine Stock Surges Despite Shortseller’s Criticism

BitMine Immersion Technologies shares experienced volatility Tuesday, ultimately closing higher after facing criticism from short-selling firm Kerrisdale Capital. The report highlights ongoing scrutiny within the crypto industry as companies aggressively hold and grow their cryptocurrency assets amidst rising market tensions and regulatory concerns. Kerrisdale Capital’s report criticized BitMine for relying on outdated growth models, including its aggressive stock issuance strategy and questioning its long-term sustainability.