NAS10029,447+1.73%S&P7,638+1.14%GOLD$4,412+0.27%BTC$77,965+2.04%VIX15.48+0.26%live tape · as of 15:00 UTC
The Screen · Financials · Capital Markets
BitMine Immersion Technologies Inc
BMNR · the NYSE · USD · Market cap $14.6B · 3 employees
Bitmine Immersion Technologies, Inc.
FAIL · Does not pass the screen
24.20 USD
At the last full screen 2026-09-10
Screened 2026-09-10 · the tape above runs as of 15:00 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markup label.
BitMine Immersion Technologies Inc holds its Markup at $24.20. The statistical read favours the sellers, held for 251 days.
As held on the ledger · 2026-09-10
Phase
Markup
Quantitative state
The statistical read favours the sellers, held for 251 days
Price at the screen
$24.20
Valuation
N/A trailing · 25.74 forward price to earnings
Values screen
FAIL· score 30.0
Beta
1.36
The Workings
Five Screens, Shown in Full
Does not pass. Excluded industry: Capital Markets
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Excluded industry: Capital Markets
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-10 screen. The gold marker is the market price at the same screen. The price runs 7.6% above the base estimate.
Third-party analyst targets: 3 covering, consensus Strong Buy. The average target sits +26% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-10 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Crypto Treasury Plays With Zero Profits
Imagine a company racing to build an ETH treasury while leasing kit for bitcoin services. BitMine shows eye watering revenue growth yet still delivers no profits and a deeply negative return on equity. We pass outright because the business sits in an excluded industry under our ethical screen.
The narrow moat offers little protection when margins sit at zero and returns on equity remain deeply negative. Forward earnings sit at 16.7 times while analysts chase higher targets, yet those forecasts rest on a business that has yet to prove it can convert explosive top line growth into actual cash.
High volatility in digital assets and capital markets exposure add further uncertainty that no margin of safety can offset. Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
BMNR trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 16.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are up 133%. Our forward projection puts the odds of a 10% gain over the next month near 33%. The street (3 analysts) rates it none, with a mean price target of $37.
2026-07-23Markdown$15.69-2.6%Entry 4
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are up 133%. Our forward projection puts the odds of a 10% gain over the next month near 33%. The street (3 analysts) rates it none, with a mean price target of $37.
2026-07-18Markdown$16.11+0.0%Entry 3
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are up 133%. Our forward projection puts the odds of a 10% gain over the next month near 33%. The street (3 analysts) rates it none, with a mean price target of $37.
2026-07-03Markdown$16.11+0.0%Entry 2
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markdown$16.11Entry 1
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
