$BitMine Immersion Tech(BMNR.US)$IREN(IREN.US)$Coreweave(CRWV.US)

Today I officially liquidated my position in BMNR. About two weeks ago, the 2x position already had a 10% profit. After half a year of averaging down, I barely broke even. But because I had to take my cat for neutering, I didn't operate, and then it kept falling to now -40%, so I had to take the loss and exit.

Personally, I never use margin on Longbridge but buy a lot of leveraged ETFs, so it's common for my account to fluctuate 20% daily.

With almost unlimited bullets and ultra-high-frequency trading, let me show you the situation with CRWV, IREN and BMNR. Currently, both IREN and CRWV have doubled from their worst -60%, only BMNR has been stuck at low levels.

BMNR itself has been bleeding shareholders dry through ATM offerings while creating almost no value. From a traditional finance perspective, its peripheral businesses no longer generate any profits. Additionally, there are high operating and marketing expenses - according to the financial report, just Q1 marketing expenses for promoting mining machines exceeded $6M USD, resulting in zero sales. While the company remains unprofitable, it repeatedly engages in inexplicable capital operations and has never done any market cap management. Executives keep getting incentives of hundreds of thousands of shares at a time.

The reason for liquidating today is that IREN has fallen to my psychological price point. With similar drawdowns, it's equivalent to switching positions to IREN 2x, and within half an hour I recovered 10% of the losses.

I've always been bullish on cryptocurrency, with BTC and ETH consistently over 20% in my portfolio. I still hold a significant amount of BTC spot. Many people advise me to wait until the crypto bill passes before making decisions. I can't predict the future - maybe BMNR will surge one day. But I've wasted too many opportunities on this stock. Nearly 100M in trading volume has brought nothing but losses. By publicly discussing BMNR today, I'm declaring I won't invest in any securities related to this company in any form. Currently, the only DAT company I hold is ABTC. I may shift to ETH spot in the future, but it definitely won't be BMNR.