Oct. 24 at 1:29 AM
$BMNR can someone explain to me how this isn't a scam. hear me out. They are issuing massive amounts of shares to raise capital to buy
$ETH. these shares dont get added to the public float currently and probably dont vest for at least 12 months for the capital lenders. So people see they have
$13 billion in eth and bid the market cap up to
$13-24 billion. However I dont believe they are announcing the amount of dilution to the float they have out behind the scenes to raise the capital. something tells me its at least like 5x-10 more than currently stated because I remember the initial capital raise when this thing raised 2 billion the floor remained the same when they had to dilute massively behind the scenes to raise that money.
