Last week, BMNR's average daily trading volume was 1.3 billion, nearly 4x its previous level, and mNAV also bounced back to 1 at certain highs. Liquidity is the foundation of DAT; management restored cash positions via ATM offerings, accumulating over 30k coins and 300 million in cash.
Over the past two months, they repurchased shares when mNAV was at 0.8 and raised capital via ATM when mNAV returned to 1, corresponding to stock prices of roughly 16 for repurchases and 24 for equity financing.
I strongly agree with management's operational strategy over the past two months, and it seems the market is buying in as well.
$BitMine Immersion Tech(BMNR.US)
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