BMNR MNAV Tracker
@BMNRTracker
$BMNR Bagholder. Trust in Tom Lee
251 Following 9.3K Followers
$BMNR is a leveraged bet on $ETH.
When $ETH goes up a lot, $BMNR should go up more.
When $ETH goes down a lot, $BMNR should go down more.
That’s how it works
@BMNRTracker Clown Lee started diluting again. Investors hate dilutions when the stock is recovering.
$BMNR has enough money to buy the rest of the 5% Alchemy and then do $200 million of share buybacks.
Oh, and they are already trading at a premium to NAV.
The run hasn’t even started.
We are going so much higher.
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$BMNR
MNAV = 1.01
NAV per share = $25.29
$BMNR $25.43
$ETH $2,481
$BMNR officially has enough cash to get then to the Alchemy of 5% this week if they wanted to do it.
They would need roughly $330 million right now to do it, and they currently have $541 million in cash.
Curious to see how they play this
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After the recent update, $BMNR announced they purchased 53,501 $ETH for an estimated $130 million.
They also added another $233 million to the cash pile on top of that $ETH purchase.
This means they raised roughly $363 million this past week, adding an estimated 15 million shares to the outstanding total.
My current estimated sharecount is now 611.3 million shares outstanding.
$BMNR bought back over 19 million shares when $BMNR was under $18. It then reissued them when the stock price was back over $22 and mNAV was back over 1.00.
Well done by the team.
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$BMNR bought back ~$85 million of shares this past week!
Thank you for listening to the shareholders! @fundstrat @BitMNR
We are in good hands!
