[BMNR vs SBET: Which is the better entry opportunity?]

BMNR plummeted over 15% after hours due to the company's new notification allowing 45.11 million shares for PIPE investors to be held at a low price (purchase cost was only $4.5), equivalent to an increase of one-quarter of the circulating shares, resulting in significant short-term selling pressure.

In contrast, SBET completed a similar registration as early as the end of May, and low-priced shares had already entered the market, resulting in much less selling pressure currently. Its price movement is closer to Ethereum's fluctuations and is more easily driven by retail investor sentiment.

From a valuation perspective, both companies currently have market capitalizations only about 50% higher than the net value of the ETH they hold, which is in a historically undervalued range.

In terms of operation, BMNR is still in a transitional period of 'institutional cashing out and retail investors picking up the pieces,' making it more suitable to wait for sentiment to clear and consider buying low when mNAV drops below 1.3, along with Put options for protection. SBET, on the other hand, is more retail-driven and emotionally volatile, making it suitable to use some short-term call options to seize short-term market opportunities.

This is for communication purposes only and does not constitute investment advice. #ETH