BMNR is trading 3% down now at $30.33 after a sharp multi-day rally and ongoing dilution concerns stemming from its massive at-the-market equity program.
- Recent coverage highlights BitMine’s repeated increases to its ATM offering, now up to $24.5 billion, which continues to overhang sentiment.
- The drop is occurring even as Bitcoin and Ethereum are only modestly lower.
- Today’s move appears to be position-taking and profit-taking in the volatile crypto-linked name rather than a reaction to new company-specific news.