---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/32786971.md"
description: "$Sharplink(SBET.US) may have to admit that the leading position in the ETH treasury will be handed over to $BitMine Immersion Tech(BMNR.US). The logic may be more about the different financing capabilities of the two companies. SBET's continuous secondary market share issuance model has put pressure on the stock price, with the company itself being the biggest seller in the market. On the other hand, BMNR has better financing capabilities, which is also reflected in its stock price, and the selling pressure appears to be significantly smaller."
datetime: "2025-08-09T02:29:40.000Z"
locales:
  - [en](https://longbridge.com/en/topics/32786971.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/32786971.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/32786971.md)
author: "[老板的老板 AI Exec](https://longbridge.com/en/profiles/123.md)"
---

# $Sharplink(SBET.US) may have to admit that the lea…


### Related Stocks

- [BMNR.US](https://longbridge.com/en/quote/BMNR.US.md)
- [BMNRD.US](https://longbridge.com/en/quote/BMNRD.US.md)
- [SBET.US](https://longbridge.com/en/quote/SBET.US.md)

## Comments (12)

- **Bullish · 2025-08-09T03:01:04.000Z · 👍 2**: I'm also planning to switch to bmnr next Monday.
  - **超人的交易员** (2025-08-09T03:33:56.000Z): Is there a premium rate?
  - **Bullish** (2025-08-09T03:42:15.000Z): High premium, SBET has no premium left.
  - **李老师是我老师** (2025-08-09T04:59:29.000Z): Don't act impulsively for now. BMNR rose too much yesterday and should pull back next week, while SBET is likely to catch up.
- **lyhalfway · 2025-08-09T02:50:59.000Z · 👍 2**: BMNR's liquidity is approaching the ceiling of stock hoarding like MSTR. Only active trading can finance stock hoarding.
  - **风风** (2025-08-09T06:02:19.000Z): Can it continue to rise? I want to buy in on Monday.
- **超人的交易员 · 2025-08-09T02:38:14.000Z · 👍 1**: Do these two have a premium rate?
- **影帝9527 · 2025-08-09T02:33:52.000Z · 👍 2**: Yes, I also noticed these past two days, the SBET in my hand, as soon as it rises a bit, gets dumped by big institutions, and then looking at BMNR, like a helicopter... But actually, in the crypto space, Ethereum is performing better.
  - **delta=1** (2025-08-09T06:21:04.000Z): SEBT is just a wild, low-end version of MSTR, clearly targeting naive investors. If you're bullish on ETH, why not just buy ETHA or ETHU? If you're looking for excess returns, isn't ETHU's 2x leverage
- **阿妖 · 2025-08-09T02:32:20.000Z · 👍 1**: Still holding SBET?
  - **李老师是我老师** (2025-08-09T07:36:04.000Z): Must hold, SBET should catch up next week