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【BMNR vs SBET: Which is the better enter a position opportunity?】
BMNR plummeted over 15% after hours, due to the company's new notice releasing 44.11 million shares to PIPE investors at a low price (with a purchase cost of only $4.5), which is equivalent to an additional quarter of the circulating shares, resulting in significant short-term selling pressure.
In contrast, SBET completed a similar registration at the end of May, and the low-priced chips have long entered the market. The current selling pressure is much smaller, and the trend is closer to the fluctuations of Ethereum, making it more susceptible to retail investor sentiment.
In terms of valuation, both companies currently have a market value that is only about 50% higher than the net worth of the ETH held, placing them in a historically undervalued range.
In terms of operations, BMNR is still in the "institutional cash-out, retail investors taking over" transition period, making it more suitable to wait for sentiment to clear and consider buying low only after mNAV drops below 1.3, coupled with Put options for protection. SBET, on the other hand, is more retail-oriented and has more emotional volatility, so it's suitable to use some short-term Call options to seize short-term market movements.
For communication purposes only, not investment advice. #ETH