BitMine Immersion Technologies, Inc. research snapshot
BMNR AI stock analysis currently reads BitMine as a high-volatility Ethereum treasury company with a growing staking revenue line rather than a conventional mining business. The July 26, 2026 treasury release reported 5,787,414 ETH, 208 BTC, $268 million of cash and marketable securities, a $180 million stake in Beast Industries, and a $61 million stake in Eightco Holdings, for total crypto, cash, marketable securities, and strategic holdings of $11.8 billion. The common stock closed at $17.28 on July 31, 2026, while current market data lists 603.23 million shares. After subtracting the $350 million preferred liquidation preference, the rough common asset base is about $18.98 per share, so the stock traded near 0.91x that estimate. BitMine has repurchased 11.6 million shares since July 1 under a $4 billion program, was added to the Russell 1000 on June 26, and projects about $299 million of annualized staking reward when its ETH is fully staked. The setup has asset-backed upside if ETH clears $2,000 and $2,500, but it still carries major dilution, preferred-dividend, custody, accounting, and crypto-market risks. This page is an information tool, not investment advice.
Current price
$17.28
Market cap
$10.42 billion
AI score
42 / 100
Rating
High-risk ETH treasury proxy trading just below estimated common asset value
Trend status
Short-term recovery above the 20-day and 50-day SMAs, still below the 200-day SMA
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | BitMine provides public-market exposure to a large ETH treasury plus a growing staking operation and two small strategic stakes, but the economic engine is still concentrated in crypto prices. | Medium |
| Moat | Scale, capital-market access, liquidity, custody processes, and the MAVAN 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, started a $4 billion buyback, secured preferred capital, and added Russell 1000 membership, but the rapid past share issuance and performance-based compensation require close monitoring. | Medium |
| Financial trend | FY2025 revenue was $6.1 million, while the trailing twelve months ended May 31, 2026 produced $61.2 million of revenue and a $8.77 billion net loss to common dominated by unrealized digital-asset losses. | High |
| Valuation | The $17.28 close was about 0.91x an approximate common asset value of $18.98 per share using the July 26 reported holdings less the $350 million preferred liquidation preference, before future changes. | Medium |
| Technical trend | Price closed above the 20-day SMA at $16.21 and the 50-day SMA at $16.40 with RSI near 54, so the chart shows a recovery attempt that is still below the 200-day SMA at $25.33. | 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 26 company release reported $11.8 billion of crypto, cash, marketable securities, and strategic holdings. After subtracting the $350 million liquidation preference of the Series A preferred shares and dividing by 603.23 million common shares, the rough common asset base is $18.98 per share. This is an approximation, not a liquidation value, and it can change with ETH, liabilities, new issuance, buybacks, staking, and the valuation of strategic holdings. The financial_rigor.py P/E scenario test is not economically meaningful because TTM EPS is negative $24.68.
$26 to $40
More likely if ETH clears $2,000 and $2,500, BitMine reaches or sustains its 5% ETH ownership goal, staking operates safely and scales, ETH per common share grows, buybacks continue, and the market values the wrapper near or above common asset value without aggressive dilution.
$17 to $23
More likely if ETH stays constructive near recent levels, 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.
$9 to $15
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 31, 2026 close from StockAnalysis historical prices. The stock rose 1.97% to $14.98 on July 10, bottomed at $12.80 on June 30, recovered to $18.08 on July 30, then closed at $17.28 on July 31, down 4.42% for the session. The recent 20-session change was about positive 20.3%. Price now sits above both the 20-day SMA at $16.21 and the 50-day SMA at $16.40, but far below the 200-day SMA at $25.33, and the chart should be read alongside ETH and BMNR treasury data.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $17.28 | StockAnalysis closing price on July 31, 2026. The after-hours quote was $17.07, but the forecast and levels use the regular-session close. |
| Near support | $16.33 to $16.87 | Recent July lows and the 20-day SMA area form a nearby demand zone. A sustained close below it would weaken the recovery attempt. |
| Deeper support | $15.44 to $15.79 | Mid-July closes around $15.44 and $15.79 define the deeper support zone before the June 30 low. |
| Key support | $12.80 to $13.31 | The June 30 low at $12.80 is the 52-week low. A close below it would invalidate the support-based recovery framework. |
| Near resistance | $17.92 to $18.32 | The July 27 and July 30 highs define the first resistance zone. A reclaim with volume would improve short-term structure. |
| Higher resistance | $18.85 to $19.44 | This zone contains the June 1 close and high. The May 26 high at $20.05 sits just above it as the top of the current six-month range. |
| 20-day SMA | $16.21 | Calculated from the latest 20 daily closes available through July 31, 2026. Price closed above this average. |
| 50-day SMA | $16.40 | Calculated from the latest 50 daily closes available through July 31, 2026. Price closed marginally above this intermediate trend reference. |
| 200-day SMA | $25.33 | StockAnalysis reported the 200-day moving average near $25.33. Price remains far below it, so the long-term trend is still damaged. |
| Momentum | RSI 53.84 | A simple 14-session RSI calculation from the same daily series is near neutral, a small improvement from the oversold readings seen in late June. |
| Volume | 20-day average about 35.4 million shares | Volume spiked to about 60 million to 61 million shares on June 26 and July 27. High volume increases both liquidity and the risk of sharp gap moves. |
| Volatility and invalidation | 14-day ATR about $1.29; close below $12.80 weakens the framework | ATR was about 7.4% 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, buyback pace, preferred funding, and staking execution.
Watch for a close above $17.92 to $18.32, followed by a hold above that zone and improving ETH momentum through the $2,000 and $2,500 levels. A move through the $18.85 to $19.44 zone with strong volume would provide stronger confirmation.
Define the invalidation before entry. A failed breakout back below $17.92 or a close below $16.33 can be used as a rules-based warning, while $12.80 is the deeper chart invalidation level.
If BMNR revisits $16.33 to $16.87 or the deeper $15.44 to $15.79 zone without a new custody, financing, or regulatory shock, compare price stabilization with ETH, mNAV, ETH per share, buyback pace, 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, the Beast Industries and Eightco Holdings stakes, preferred dividends, common shares outstanding, and buyback pace.
Rebuild the scenario after each treasury update, SEC filing, buyback announcement, and preferred-dividend declaration. 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. 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. Staking rewards are now the largest visible revenue line, while the older mining, leasing, consulting, and equipment activities are 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 about $280 million at a 9.50% dividend rate, which can fund the treasury without issuing common shares but adds a senior claim. In July 2026 BitMine repurchased 11.6 million shares under a $4 billion program, which management calls the largest buyback ever for an ETH or Bitcoin treasury, but the SEC filing history still shows rapid common-share growth and a performance-based compensation plan.
The long-term case rests on Ethereum becoming a settlement and coordination layer for tokenized assets, stablecoins, decentralized applications, and machine-driven payments. Management points to the GENIUS Act and SEC crypto initiatives as structural catalysts and sees ETH/BTC near a three-month high. Adoption, regulation, protocol competition, staking economics, and market structure remain uncertain, and BitMine is a financial-market wrapper around the trend, not the protocol owner.
At $17.28, the stock trades below the approximate $18.98 common asset base calculated from the July 26 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 | $17.28 close; $10.42 billion market cap; July 31, 2026 | StockAnalysis overview and statistics | August 3, 2026 |
| Common shares outstanding | 603.23 million in current market data; the May 31, 2026 balance sheet shows 579.65 million total common shares outstanding | StockAnalysis statistics and SEC Form 10-Q | August 3, 2026 |
| Treasury holdings | 5,787,414 ETH, 208 BTC, $268 million cash and marketable securities, a $180 million Beast Industries stake, a $61 million Eightco Holdings stake, and $11.8 billion total crypto, cash, marketable securities, and strategic holdings in the July 26 release | BitMine July 26 treasury update, SEC Exhibit 99.1 | August 3, 2026 |
| Staked ETH | 4,917,189 ETH staked, about $9.6 billion at $1,948 per ETH; company projected about $299 million annualized staking reward at a 2.65% seven-day yield | BitMine July 26 treasury update, SEC Exhibit 99.1 | August 3, 2026 |
| Share repurchases | 6.1 million shares repurchased in the week before July 26; 11.6 million since July 1, 2026, under the $4 billion repurchase program | BitMine July 26 treasury update, SEC Exhibit 99.1 | August 3, 2026 |
| FY2025 revenue and net income | $6.1 million revenue and $348.58 million net income, or $328.16 million to common, with the latter driven by digital-asset gains | SEC 2025 Form 10-K, cross-validated with StockAnalysis | August 3, 2026 |
| Trailing twelve months ended May 31, 2026 | $61.2 million revenue and $8.77 billion net loss to common, dominated by unrealized digital-asset losses; diluted EPS was negative $24.68 | StockAnalysis financials and SEC Form 10-Q for the quarter ended May 31, 2026 | August 3, 2026 |
| Balance sheet at May 31, 2026 | $340.29 million cash and equivalents, $11.63 billion total assets, and $11.60 billion shareholders equity, with book value per share near $20 | SEC Form 10-Q, cross-validated with StockAnalysis balance sheet | August 3, 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, trading on the NYSE under the symbol BMNP | SEC June 2026 offering announcement and NYSE listing | August 3, 2026 |
| Analyst consensus | Strong Buy from 3 analysts with a mean price target of $31.87, about 84% above the July 31 close | StockAnalysis forecast | August 3, 2026 |
| Technical levels | 20-day SMA $16.21, 50-day SMA $16.40, 200-day SMA $25.33, RSI 53.84, 14-day ATR about $1.29, and 20-day average volume about 35.4 million | Calculations from StockAnalysis daily history | August 3, 2026 |
| Index membership | Added to the Russell 1000 Large-cap index on June 26, 2026 | BitMine company release | August 3, 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 31, 2026, with research completed on August 3, 2026. They can be wrong if ETH prices, treasury holdings, common shares, preferred claims, staking, buybacks, custody, regulation, accounting, or market conditions change.
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