Short-selling firm Kerrisdale Capital announces short position on Ethereum treasury company BitMine

ChainCatcher news, the short-selling firm Kerrisdale Capital announced on platform X that it has shorted the stock of the Ethereum treasury reserve company Bitmine, believing that the so-called DAT (Digital Asset Treasury) model has become mediocre and unoriginal: as nearly identical copy projects flood the market, premiums are collapsing, and the ability to issue shares above net asset value (NAV) to enhance the per-share ETH content is also disappearing.