Short-selling firm Kerrisdale Capital announced a short position in Bitmine (BMNR) stock, stating that the DAT model has become highly homogenized, with intensified market competition causing premiums to decline rapidly. Kerrisdale emphasized that it is not shorting ETH, but believes BMNR’s model lacks scarcity and sustainability, and that the logic behind its premium trading is no longer valid. https://t.co/mOxoZnj7yD ...