BitMine Immersion Technologies, Inc. research snapshot
BMNR AI stock analysis currently reads BitMine as a high-volatility Ethereum treasury company rather than a conventional mining business. The July 6 treasury release reported 5,742,237 ETH, 206 BTC, $527 million of cash and marketable securities, and total crypto, cash, and strategic holdings of $11.1 billion. The common stock closed at $14.98 on July 10, while the latest market-data source listed 569.58 million shares. The setup has asset-backed upside if ETH rises and management grows ETH per common share, but it also carries major dilution, preferred-dividend, custody, accounting, and crypto-market risks. This page is an information tool, not investment advice.
Current price
$14.98
Market cap
$8.53 billion
AI score
38 / 100
Rating
High-risk ETH treasury proxy, below reported common NAV
Trend status
Short-term rebound attempt inside a weak 50-session trend
Data cutoff (updated weekly)
July 10, 2026 market close; July 6, 2026 treasury release
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | BitMine provides public-market exposure to a large ETH treasury, staking operations, and related digital-asset services, but the economic engine is still concentrated in crypto prices. | Medium |
| Moat | Scale, capital-market access, liquidity, custody processes, and staking infrastructure may matter, but ETH itself is not a proprietary moat and competitors can copy the treasury structure. | Medium-low |
| Management | Chairman Thomas Lee has built a clear ETH accumulation narrative and secured preferred capital, but the rapid share issuance history and performance-based compensation require close monitoring. | Medium |
| Financial trend | FY2025 revenue was $6.10 million, while the six months ended February 2026 produced $13.34 million of revenue and a $9.02 billion net loss dominated by unrealized digital-asset losses. | High |
| Valuation | The $14.98 close was about 0.79x an approximate common asset value of $18.87 per share using the July 6 reported holdings less the $350 million preferred liquidation preference, before future changes. | Medium |
| Technical trend | Price was near the 20-day SMA but below the 50-day SMA, with RSI near 42 and very high volume, so the chart shows a volatile recovery attempt rather than a confirmed trend reversal. | Medium-high |
| Risk level | Risk is very high because ETH price, staking and custody, financing, dilution, preferred dividends, accounting marks, and regulatory changes can all move common-stock value quickly. | High |
| AI confidence | Confidence is high for descriptive data and low for forward returns because the stock is a leveraged market-structure and crypto-cycle instrument. | High data confidence |
| Investment certainty | The treasury is observable, but the durable value of the wrapper, the future share count, and the governance model remain uncertain. | Low |
BMNR AI stock forecast
The BMNR AI stock forecast is an asset-value scenario range, not a fixed price prediction. The July 6 company release reported $11.1 billion of crypto, cash, marketable securities, and strategic holdings. After subtracting the $350 million liquidation preference of the 3.5 million Series A preferred shares and dividing by 569.58 million common shares, the rough common asset base is $18.87 per share. This is an approximation, not a liquidation value, and it can change with ETH, liabilities, new issuance, staking, and the valuation of strategic holdings. The financial_rigor.py P/E scenario test is not economically meaningful because TTM EPS is negative $39.90.
$25 to $40
More likely if ETH rises materially, BitMine reaches or sustains its 5% ETH ownership goal, staking operates safely, ETH per common share grows, and the market values the wrapper near or above common asset value without aggressive dilution.
$17 to $23
More likely if ETH remains constructive, treasury growth continues at a slower pace, staking income offsets some operating costs, and BMNR trades around a modest discount to the common asset base.
$8 to $14
More likely if ETH falls, the discount to treasury value widens, preferred funding becomes expensive, common issuance reduces ETH per share, or custody, regulatory, accounting, or liquidity problems damage confidence.
BMNR AI technical analysis
BMNR AI technical analysis uses daily data through the July 10, 2026 close from StockAnalysis historical prices. The stock rose 1.97% to $14.98 on 28.4 million shares, but the recent 20-session change was about negative 9.3% and the 50-session change was about negative 27.5%. The chart remains highly volatile and should be read alongside ETH and BMNR treasury data.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $14.98 | StockAnalysis closing price on July 10, 2026. The after-hours quote was $15.05, but the forecast and levels use the regular-session close. |
| Near support | $14.10 to $14.36 | Recent July lows and closes formed a nearby demand area. A sustained close below it would weaken the rebound attempt. |
| Deeper support | $12.80 to $13.31 | The June 30 low at $12.80 and nearby June closes define the deeper support zone in the current six-month history. |
| Near resistance | $15.55 to $16.16 | The July 6 close and July 6 high area are the first resistance zone. A reclaim with volume would improve short-term structure. |
| Higher resistance | $17.82 to $18.85 | This zone contains recent June highs and the June 1 close. It is also below the calculated 50-day moving-average area. |
| 20-day SMA | $15.01 | Calculated from the latest 20 daily closes available through July 10, 2026. Price was marginally below this average. |
| 50-day SMA | $17.85 | Calculated from the latest 50 daily closes available through July 10, 2026. Price remained well below this intermediate trend reference. |
| Momentum | RSI 42.05 | A simple 14-session RSI calculation from the same daily series is below neutral but not at an extreme oversold reading. |
| Volume | 20-day average about 37.6 million shares | The 50-session average was about 36.9 million shares. High volume increases both liquidity and the risk of sharp gap moves. |
| Volatility and invalidation | 14-day ATR about $1.06; close below $12.80 weakens the framework | ATR was about 7.1% of price. A close below the recent $12.80 low would invalidate the current support-based recovery setup. |
BMNR AI trading strategy
This BMNR AI trading strategy is a rules framework for research, not personalized advice. BMNR setups should be sized for crypto-level volatility and checked against ETH price, treasury value per share, common share issuance, preferred funding, and staking execution.
Watch for a close above $15.55 to $16.16, followed by a hold above that zone and improving ETH momentum. A move through the $17.85 50-day SMA with strong volume would provide stronger confirmation.
Define the invalidation before entry. A failed breakout back below $15.55 or a close below $14.10 can be used as a rules-based warning, while $12.80 is the deeper chart invalidation level.
If BMNR revisits $12.80 to $13.31 without a new custody, financing, or regulatory shock, compare price stabilization with ETH, mNAV, ETH per share, and daily volume before considering a rebound framework.
Do not average down solely because the stock trades below reported asset value. The setup fails if ETH declines, the share count rises faster than treasury growth, or the discount widens with heavy selling.
Track weekly ETH holdings, staked ETH, staking yield, ETH per common share, cash and marketable securities, preferred dividends, common shares outstanding, and the value of strategic holdings.
Rebuild the scenario after each treasury update and SEC filing. Avoid leverage when a 7% daily ATR estimate and crypto-linked gaps can overwhelm a preset stop.
Investment research summary
BitMine sells public-market access to a managed digital-asset treasury. Customers do not pay BitMine directly for ETH exposure; shareholders provide capital and receive common-stock exposure to ETH holdings, staking economics, treasury management, and the market premium or discount applied to the wrapper. The older mining, leasing, consulting, and equipment activities are now secondary.
The possible advantages are scale, capital-market access, trading liquidity, custody relationships, validator operations, and the ability to accumulate ETH quickly. These are execution advantages rather than a protected technology moat. ETH, staking providers, and a treasury-company structure can be copied, while custody or counterparty failures can destroy trust quickly.
The thesis can fail through an ETH drawdown, a widening mNAV discount, common issuance that reduces ETH per share, preferred dividends that consume cash, staking or custody losses, regulatory restrictions, weak governance, or accounting marks that make reported earnings unusable. The strongest bear question is whether a shareholder could own ETH more simply and more cheaply elsewhere.
Thomas Lee became chairman in 2025 and the company has made the Alchemy of 5% goal central to capital allocation. The June 2026 preferred offering raised $280 million at a 9.50% dividend rate, which can fund the treasury without issuing common shares but adds a senior claim. The SEC filing history also shows rapid common-share growth and a performance-based executive compensation plan, so incentives and ETH per share deserve more attention than total ETH alone.
The long-term case rests on Ethereum becoming a settlement and coordination layer for tokenized assets, stablecoins, decentralized applications, and machine-driven payments. That is a meaningful technology trend, but adoption, regulation, protocol competition, staking economics, and market structure remain uncertain. BitMine is a financial-market wrapper around this trend, not the protocol owner.
At $14.98, the stock trades below the approximate $18.87 common asset base calculated from the July 6 reported total holdings less the preferred liquidation preference. That discount is not automatically a margin of safety because the reported total includes volatile crypto and strategic assets, the share count can change, preferred dividends rank ahead of common equity, and the company may trade below NAV for structural reasons.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| BMNR price and market cap | $14.98 close; $8.53 billion market cap; July 10, 2026 | StockAnalysis overview and statistics | July 11, 2026 |
| Common shares outstanding | 569.58 million in current market data; SEC 10-Q reported 537.63 million as of April 13, 2026 | StockAnalysis statistics and SEC Form 10-Q | July 11, 2026 |
| Treasury holdings | 5,742,237 ETH, 206 BTC, $527 million cash and marketable securities, and $11.1 billion total crypto, cash, and strategic holdings in the July 6 release | BitMine July 6 treasury update, SEC Exhibit 99.1 | July 6, 2026 |
| Staked ETH | 4,879,157 ETH staked; company projected about $277 million annualized staking reward at a 2.68% seven-day yield | BitMine July 6 treasury update, SEC Exhibit 99.1 | July 6, 2026 |
| FY2025 revenue and net income | $6.095 million revenue and $348.577 million net income, with the latter driven by digital-asset gains | SEC 2025 Form 10-K, cross-validated with StockAnalysis | July 11, 2026 |
| Six months ended February 28, 2026 | $13.335 million revenue, including $11.181 million staking revenue, and $9.023 billion net loss | SEC Form 10-Q for the six months ended February 28, 2026 | July 11, 2026 |
| Cash and digital assets at February 28, 2026 | $879.577 million cash and $8.806 billion digital assets | SEC Form 10-Q, cross-validated with StockAnalysis balance sheet | July 11, 2026 |
| Preferred capital | 3.5 million Series A preferred shares priced at $80, with a $100 stated liquidation preference and a 9.50% dividend rate | SEC June 2026 offering announcement | July 11, 2026 |
| Technical levels | 20-day SMA $15.01, 50-day SMA $17.85, RSI 42.05, 14-day ATR about $1.06, and 20-day average volume about 37.6 million | Calculations from StockAnalysis daily history | July 11, 2026 |
This BMNR AI stock analysis page is an informational tool only. It is not investment advice, a recommendation, or a promise of future returns. Forecast scenarios are based on available public data, financial_rigor.py calculations, technical history, and stated assumptions as of July 10, 2026. They can be wrong if ETH prices, treasury holdings, common shares, preferred claims, staking, custody, regulation, accounting, or market conditions change.
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