from here, BMNR can lag ETH if BitMine funded its latest 32,447 ETH addition with enough common shares to cut ETH per share. the addition grew BitMine's stack 0.558% and equaled 5.9 basis points of seven-day gross ETH volume, so the buy does not explain ETH's 31.37% weekly rally by itself. when ETH rose from $1,893 to $2.44k, BitMine's old stack gained $3.18b, or 91% of the $3.5b portfolio increase, and the company omitted its current share count and funding source.
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