Short Seller Slams BitMine’s ETH Strategy as Value Erodes

Crypto firm BitMine is under fire from short-seller Kerrisdale Capital, which accuses the company of outdated and inefficient tactics in its Ethereum (ETH) strategy. Kerrisdale argues that BitMine’s approach to ETH holdings – fueled by stock sales – is no longer justifiable and has eroded investor value. The criticism comes as the firm seeks to shift from a Bitcoin mining focus to an ETH treasury firm, amassing billions worth of ETH and impacting its share price.