BITMINE IMMERSION TECNOLOGIES INC

$BitMine Immersion Tech(BMNR.US) mNAV hit a low of 0.89 last week, with management repurchasing 2mn shares at $22.4

I've noticed many stock enthusiasts are quite interested in the "Chip Concentration" indicator, so I built a tracking dashboard. The data shows that although BTC rose from 80k to 84k and then pulled back over the past two days, this isn't considered a significant fluctuation (compared to the frequent 10k swings we saw in August). The concentration indicator remains at a high level, suggesting the major move hasn't happened yet.

The logic behind this indicator is: 'What percentage of BTC's cost basis is currently trapped within a narrow band of ±5% around the current price? (i.e., last traded at this price)'

The more chips concentrated here, the more holders have their cost basis squeezed near the current price. Once a breakout occurs, there will be enough profit-takers or stop-losses to further drive the price.

High chip concentration implies large future volatility, though the direction remains uncertain. A directional move is highly likely to occur in the final two weeks of October.

$Strategy(MSTR.US)

$BitMine Immersion Tech(BMNR.US)

Not all bad news, at least the 10y yield dropped.

With macro data this weak, BTC still held above 80k; I feel this pullback is nearing its end. ETH had high long leverage before and pulled back more, but its rebound should be stronger when it comes.

mNAV hit a low of 0.87; BMNR may restart buybacks this week. Will see how to update next Monday.