It’s looking good for Ethereum 👇 w/ $5B Bitmine (NYSE-BMNR) $ETH w/ $2B Ether Machine (ETHM) w/ $1.5B & Ethereum ETFs w/ $7.5B (net)

Wow, Bitmine (NYSE-BMNR) $ETH ($BMNR) is increasing their ETH-purchase limit by $2.5B. So far, they’ve bought ~$114M ETH per day over 16 days. 👇 ($SBET) is voting to approve their $5B increase today. The race between Thomas (Tom) Lee (not drummer) FSInsight.com & Joseph Lubin is on! There’s not enough ETH.

Still looking good for Ethereum👇 🦇🔈 ETH DAT purchases remain high (e.g. w/ ~$300m/week). 🦇🔈 mNAVs across $SBET, $BMNR, & $DYNX are 1.2x - 1.5x w/ room to match or exceed $MSTR given ETH staking yield. Credit @maxxtfsa & Drawdown for these charts.

Big news from ($SBET) and Bitmine (NYSE-BMNR) $ETH ($BMNR), but BMNR is pulling farther ahead with ~$1b in purchases vs. $300m for SBET. 👇 SBET has $600m in cash and a much higher remaining ATM limit, but we should expect BMNR to raise their limit or otherwise raise more s00n.

Today, reported 3.95 ETH / 1K shares: 🔊🦇 0.00395 ETH / Share 🔊🦇 $4,450 / ETH 🔊🦇 $17.58 / Share 👈 NAV $SBET @ $20.11 👉 1.14x mNAV w/ Bitmine (NYSE-BMNR) $ETH & Strategy trading @ 1.5 - 2x range, where will $SBET be in Q4? Comment why this is/isn’t a steal. 🙏👇

Last week, & Bitmine (NYSE-BMNR) $ETH purchased ~$0.9B ETH and now have ~$0.8B cash (combined). Racing to stack ETH, $SBET & $BMNR are down 2% & 9% WoW while ETH is up 4%. This may be because they’ve increased their ATM sales relative to volume: Now at 8% - 10%. Priority: ETH.

Since Monday, Bitmine (NYSE-BMNR) $ETH has purchased ~$350m ETH and increased their cash position by ~$225m, so they’re still selling 8 - 10% of volume ATM to raise. 👇 Note: Yesterday’s $BMNR performance may be due to final PIPE shares unlocking. See: David Grider’s thread for details.

It’s becoming a 3-DAT race, as Ether Machine (ETHM) announced a huge haul this week. Congrats to Andrew Keys & Co.👇 Bitmine (NYSE-BMNR) $ETH & also posted their weekly updates: $BMNR: 1.87M ETH (+153K) & $635M $SBET: 837K ETH (+40K) & $72M $ETHM: 495K ETH (+150K) & $367M

Interesting interview yesterday from Andrew Keys at Ether Machine (ETHM) covering: (1) Staking, Restaking, & DeFi (2) Why $ETHM is best-positioned to raise via convertible debt. (3) Plans to acquire other ETH DATs that are trading < 1x mNAV. LINK 👉 youtu.be/UWzGfi3rTmE

🌈🦧 back in the Othersidemeta. 👇 Listening to apes like BaronVonHustle 🍌, , & ngbshpend.eth 🍌 is a good way to get back up to speed on things ApeChainHUB. ~3,000 listening on X and ~100 in-world... wen flip? P.S. The new Outbreak game is addicting.

Ryan2Ryan, fabda.gold’s Strategic ETH Reserve (SΞR) is great research resource: Bitmine (NYSE-BMNR) $ETH won’t “soon own more ETH than the EF,” since they already own ~10x more! ETH is sufficiently decentralized to survive companies accumulating > 1% of the supply. BTC was w $MSTR! I think SOL will be too.

Shoutout to Other Games & Othersidemeta for this event. Hundreds online... games loading in just a few minutes... seamless even with 100 players/game. Impressive! Feeling good about 23rd out of 100. Anyone seeing this score more than 86k pts? --🌈🦧

With Bitmine (NYSE-BMNR) $ETH ( $BMNR ) trading at a 1.4x premium to mNAV, Thomas (Tom) Lee (not drummer) FSInsight.com can sell shares ATM and effectively buy ETH at ~$2,800. gg

Pls check my math: Bitmine (NYSE-BMNR) $ETH sold ~5.4% of vol ATM. Lower, WoW, allowing mNAV expansion? 🤔 💎12.4b $BMNR vol 9/22 - 9/26 💎2.42m ETH & $345m cash 9/22 💎$365m from warrants 💎2.65m ETH & $436m cash 9/29 ~ $0.94b ETH inc. (est. ~$4k price) & ~$0.27b cash dec. 👉 0.67/12.4 = 5.4

US equities staking ETH: As of today, Grayscale’s ETH ETFs are staking! 🎉 VanEck filed for a stETH ETF citing benefits vs. ETH ETFs. 👇 ETH DATs like $SBET already stake 100% of their ETH and folks from other leaders (e.g. Keys at $ETHM) discuss participating in DeFi.

gm. Some positive developments for $ETH to start the new year: (1) The Staking Exit Queue just emptied. (2) Bitmine (NYSE-BMNR) $ETH mNAV is back to 1x after slipping to 0.9x. See: BMNR MNAV Tracker (3) ETH ETF flows flipped positive Friday. We’ll see if this holds up. See: Farside Investors