BMNR
BMNRBitmine Immersion Technologies operates in the capital markets sector, focusing on cryptocurrency mining.
It is a specialized firm aiming to provide efficient, low-cost Bitcoin mining solutions through immersion cooling technology.
更新时间：December 28, 2025, 16:00 EST
投资观点：BMNR值得买吗？
BMNR Stock Analysis
Technical Analysis BMNR exhibits a severe bearish trend, having dropped 45% in three months while severely underperforming the broader market. The current price sits near its 52-week low, indicating deeply oversold conditions. While this might suggest a potential technical bounce, the pronounced selling pressure reflects significant underlying weakness.
Fundamentals & Valuation The company's fundamentals are highly unstable, with erratic revenue and a negative gross profit margin in its latest quarter. Critical liquidity and efficiency metrics show zero values, pointing to potential solvency concerns and impaired operations. The exceptionally high P/S ratio of 795x suggests the stock is priced on speculation rather than sustainable business performance.
Risk Assessment BMNR carries extreme price risk, evidenced by an 80% maximum drawdown over the past year. Although short interest is low, indicating minimal bearish sentiment, the stock remains highly volatile and vulnerable to further declines due to its weak financial health.
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Investment Recommendation
Based on the analysis, BMNR is not recommended for purchase. The stock shows persistent downward momentum, fundamentally unsound operations, and severe valuation discrepancies. While technically oversold, the underlying business instability and extreme risks outweigh any potential for a short-term rebound. Investors should consider more stable alternatives with clearer growth prospects and healthier financials.
*Note: This is not investment advice, for reference only.*
BMNR未来12个月走势预测
RockFlow 模型预测：2026年三种情景
Based on the provided analysis, the 12-month outlook for BMNR is highly challenged and bearish.
The primary catalyst for any potential upward movement is the stock's deeply oversold technical condition, which could lead to a short-covering or speculative bounce, though this would likely be temporary. The main risks are dominant and severe, including the company's fundamentally unsound operations, negative gross margins, potential solvency concerns, and a valuation that appears speculative and unsustainable. While the consensus analyst target price of $53.5 suggests significant theoretical upside, it stands in stark contrast to the current bearish momentum and fundamental weaknesses, making it a highly ambitious and speculative target. Overall, the stock's instability and extreme risks likely outweigh the potential for a sustained recovery.
| 情景 | 概率 | 目标价 | 关键假设 |
|---|---|---|---|
| 🟢 乐观情景 | 10% | $40.0 - $45.0 | Extreme oversold bounce driven by speculative buying and potential one-time financial events |
| 🟡 基准情景 | 30% | $25.0 - $30.0 | Continued trading near current distressed levels with high volatility |
| 🔴 悲观情景 | 60% | $15.0 - $20.0 | Further decline due to solvency concerns and unsustainable financial metrics |
华尔街共识
大多数华尔街分析师对BMNR未来12个月的走势持乐观态度，主流目标价集中在$53.50左右，表明普遍预期公司仍有上涨空间。
投资BMNR的利好利空
综合来看，BMNR具备一定的投资价值，但也面临多重挑战。以下是投资该股票前需要权衡的主要因素。
利好
- Massive Ethereum Treasury: Company holds over 4 million ETH valued at approximately $12 billion.
- Historic Stock Performance: Stock price surged 612.7% over the past six months.
- Strong Positive Momentum: Recent 17% weekly gain driven by significant catalysts.
- Analyst Optimism for 2026: Positive forecasts and upcoming catalysts support bullish outlook.
- Trades Below Book Value: Stock is undervalued relative to its substantial ETH holdings.
利空
- Potential Share Dilution: Proposed 50 billion share authorization raises dilution concerns.
- Governance Instability: Recent board member resignation signals internal governance shifts.
- Recent Price Correction: Stock dropped 10% following massive share authorization plan.
- High Volatility Risk: Performance is heavily tied to volatile cryptocurrency markets.
- Recent Trading Hiccups: Stock has experienced volatility despite overall strong gains.
BMNR 技术面分析
BMNR's performance reflects a significant bearish trend characterized by substantial losses over the mid-term.
Short-term, the stock shows a slight decline of 2.05% over one month but a severe drop of 45.46% over three months, drastically underperforming the broader market by over 50 percentage points. This indicates persistent and pronounced selling pressure.
The current price of $28.31 sits significantly closer to its 52-week low of $3.92 than its high of $161.0, indicating it remains deeply oversold despite the massive drawdown. The stock is currently in an oversold condition based on its position within its annual range.
| 时间段 | BMNR涨跌幅 | 标普500 |
|---|---|---|
| 1m | -2.0% | +2.6% |
| 3m | -45.5% | +4.7% |
| 6m | +514.3% | +16.8% |
| 1y | +265.4% | +17.4% |
| ytd | +265.4% | +19.5% |
BMNR 基本面分析
Revenue & Profitability: The company shows extreme volatility, with Q4 revenue declining 35% from Q3 while achieving an extraordinary 26,517% net profit margin due to a $459 million other income item. The gross profit ratio turned negative (-45.7%) in Q4 versus positive (23.9%) in Q3, indicating severe operational inconsistencies that make trend analysis unreliable.
Financial Health: Basic liquidity metrics (current ratio, quick ratio, cash ratio) show zero values, indicating potential immediate solvency concerns. The interest coverage ratio appears strong at 10,101x, but this is driven by the one-time extraordinary income rather than sustainable operating performance.
Operational Efficiency: Key efficiency metrics (ROE, ROA, asset turnover) show zero values, suggesting either data limitations or severely impaired operational effectiveness. The extremely high P/S ratio of 795x indicates the market is pricing this stock based on speculative factors rather than fundamental operational performance.
最近两年营收 & 净利润走势
公司主要靠什么赚钱？
估值分析：BMNR是否被高估？
Valuation Level: BMNR appears significantly distressed based on its unusual financial metrics. While PE and PB ratios sit well below typical valuation ranges, suggesting potential undervaluation, the exceptionally high PS ratio of nearly 1,978 and negative EV/EBITDA indicate severe operational challenges or accounting anomalies that overshadow traditional valuation metrics. These figures collectively point toward a company experiencing substantial revenue recognition issues or minimal sales relative to market capitalization.
Peer Comparison: Without industry averages for direct comparison, BMNR's valuation metrics present an ambiguous picture when viewed in isolation. The extreme PS ratio deviation from normal market multiples suggests BMNR operates with fundamentally different business dynamics than typical public companies. The negative EV/EBITDA further confirms the company's current financial performance does not align with conventional valuation frameworks used for peer benchmarking.
投资风险提示
Volatility Risk: BMNR exhibits moderate volatility relative to the market, as indicated by its Beta of 0.868. However, the stock carries extreme price risk, evidenced by a catastrophic maximum drawdown of -80.74% over the past year, signaling severe downside volatility and potential capital erosion during market downturns.
Other Risks: The stock faces minimal pressure from short sellers, with a very low short interest of 0.51%. While indicating a lack of strong negative sentiment, this low short interest can also coincide with low trading liquidity, potentially leading to wider bid-ask spreads and increased volatility on trading volume fluctuations.
常见问题
Bearish. BMNR is extremely high-risk due to severe operational distress (missing liquidity metrics, negative gross profit) and its valuation being disconnected from fundamentals, relying entirely on speculative crypto holdings. While its massive Ethereum treasury offers potential upside, the stock is a speculative gamble suitable only for investors with high risk tolerance who understand crypto volatility and governance risks. Long-term or value investors should avoid it.
Based on the metrics provided, BMNR appears severely overvalued despite its low PE (2.1) and PB (0.76) ratios. The valuation is critically distorted by an astronomical PS ratio (~1,978) and zero-valued operational metrics (ROE, ROA), which are extreme outliers compared to any rational industry or historical standard. The primary reason for this overvaluation is that the stock price is completely detached from the company's fundamental operational reality, which shows negative gross profit, zero liquidity, and profitability driven solely by a one-time income event rather than sustainable business performance.
Based on the provided information, here are the key risks of holding BMNR stock, ordered by importance:
1. Extreme Volatility and Price Risk: The stock has demonstrated catastrophic price erosion with an -80.74% maximum drawdown, indicating a severe risk of capital loss that is disconnected from broader market movements. 2. Severe Operational Instability and Solvency Concerns: The company exhibits wildly inconsistent operational results, including a negative gross profit margin and liquidity ratios of zero, pointing to fundamental business failure and potential immediate solvency risk. 3. Speculative Valuation Detached from Fundamentals: With a Price-to-Sales ratio of 795x and key efficiency metrics showing zero, the stock price is likely supported by speculative sentiment rather than sustainable financial performance, creating a high risk of a sharp correction.
Based on the severe operational weaknesses and solvency risks detailed, my forecast for BMNR's 2026 performance is highly speculative and bearish.
* Target Price Range: A base case is challenging to establish given the fundamental unsoundness, but a realistic range could be significantly lower than the current price. The analyst target of $53.5 represents a theoretical bull case but depends entirely on a successful and dramatic operational turnaround that is not currently evident. * Key Growth Drivers: Any positive performance would hinge on 1) a complete resolution of its solvency concerns and return to positive gross margins, and 2) achieving sustainable, positive revenue growth, reversing the extreme volatility. * Main Assumptions: This forecast assumes the company's fundamental issues persist, making the current analyst targets highly ambitious. The primary assumption is that the market will continue to re-rate the stock based on its operational reality rather than speculative potential. * Uncertainty: The forecast carries extreme uncertainty; the stock's viability itself is in question due to the indicated solvency risks, and the provided financial data shows inconsistencies that make reliable modeling nearly impossible.
Based on BMNR's extreme volatility (-80.74% max drawdown) and distressed fundamentals, this stock is unsuitable for long-term investment. For speculative traders with very high risk tolerance, only short-term trading (under 6 months) could be considered, focusing on technical bounces from oversold levels while using strict stop-losses. Medium-term investors should avoid BMNR entirely due to its severe operational instability and valuation anomalies. The stock's catastrophic price swings demonstrate that its risk profile aligns purely with speculative, short-duration positions rather than sustained holding periods.