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Bitcoin mining sector is not going to be around in 5 years: Kerrisdale Capital
Shares of Riot Platforms (RIOT) are moving lower after Kerrisdale Capital came out with a call to short the company's stock. Kerrisdale Capital CIO Sahm Adrangi joins Market Domination to explain the call. "I think our investment thesis is that this sector is just not going to be around in five years. Bitcoin mining is one of the stupidest business models we've come across in our time short-selling," Adrangi tells Yahoo Finance. He adds that looking behind the economics of all US bitcoin miners reveals they 'don't make money," but instead issue shares to pay themselves healthy stock compensation and buy more mining ...