Greetings,
Watched a few videos and searched for information. Zero documentation available for this. I didn't see anyone getting prompted for a .bin file however.
Some ran from windows, others from a USB stick. Its recommended that you be on F31 before running the EC FW tool. Also saw posts from a few users that said a .txt file was put in the directory where the file was run from. Extract to desktop, run tool, after restart .txt file with the contents "PASS" was present. They then updated to F40.
The tool didn't take more than a minute after it was run before restarting the system automatically.