BitMine's trading volume reached $9.273 billion yesterday, ranking 7th in the US stock market
BlockBeats News, August 12th, according to Rockflow data, the Ethereum Treasury and crypto mining company BitMine (BMNR) reported a trading volume of 9.273 billion USD yesterday, ranking 7th among US stocks that day.
Compared to a strategy relying on debt and preferred stock financing, Bitmine's current financial structure has more cushioning capability thanks to equity issuance, cash reserves, and ETH staking rewards.
The ebb of the top three buyers, BitMine bears the brunt of ETH selling pressure alone. With a floating loss of 3 billion, it is the ultimate gamble about "buying the dip" and "catching the falling knife."