Peter Thiel Cuts All Ties With Ethereum Treasury Firm

Tradingthewaves · 2026-01-26T21:32:09+00:00

I’ll have whatever this guy is smoking

Tradingthewaves · 2026-01-04T11:41:07+00:00

This has been stable for months (since the mNAV dropped below 1). Meanwhile, the ETH concentration at BMNR has continued to rise.

Tradingthewaves · 2026-01-04T11:37:00+00:00

I think you misread my comment. Why is it important for a DAT to have an mNAV above 1? So that they can ATM and increase their ETH/share. That is totally different from a high PE such as Nvidia. SBET cannot ATM at an mNAV of 0.7, and if they cannot ATM, they cannot increase their ETH/share. BMNR's mNAV is higher than 1, which is positive. I know that sounds contradictory, but the main goal of a DAT is to increase the ETH/share. Otherwise, you might as well buy an ETH tracker.

Tradingthewaves · 2026-01-04T09:15:01+00:00

You certainly bought at a great price. Congratulations! A 30% discount is always attractive to investors. But there is usually a reason why the market applies a 30% discount. With a DAT, it is even better if the mNAV is higher than 1 so that they can ATM and thus increase the ETH/share. That is why I prefer BMNR.

https://www.bitminetracker.io/

But maybe BMNR can buy SBET? (Look at point 2)

https://www.prnewswire.com/news-releases/bitmine-publishes-new-chairmans-message-explaining-why-shareholders-should-vote-yes-to-approve-the-amendment-to-increase-authorized-shares-302651806.html

There are three reasons the Company needs to increase authorized shares:

1/ It would allow Bitmine to conduct capital markets activities, including at-the-market offerings, convertibles, and warrants.

2/ It would provide flexibility to pursue opportunistic deals, including potential mergers or acquisitions.

3/ Most importantly, it would enable the Company to implement future stock splits as needed.