BNMR, in which Tom Lee participated, has raised the stock issuance limit (ATM) to $24.5 billion and plans to raise an additional $20 billion to buy ETH. At present, it is the world's largest ETH listed company holding 1150263 shares, with the goal of holding 5% of ETH on the entire network. This is good news for ETH, as it means there is a huge potential buying potential, but it is a bit unfriendly to BNMR shareholders. The pre market stock price has slightly fallen. Based on the experience of MSTR, after large-scale ATM, the stock price often returns to the corrected mNAV, diluting the premium. If it can return to a reasonable valuation (premium) range, as the leading stock of ETH, it will still be the most popular target for funds in the market. This article is sponsored by Bitget | @ Bitgetzh