Bitmine Immersion Technologies, Inc.

AI-generated fair value estimate for this company.

Method: Sum-of-parts NAV: 6.0 million ETH held (~4.9% of ETH supply) marked at ~$2,700/ETH spot price (~$16.2B) plus ~$1.0B cash and other liquid marketable securities (company-disclosed total crypto+cash holdings of $17.2B as of 9/27/2026), less ~$30M total liabilities, divided by 603.23 million diluted shares outstanding; no incremental DCF value added for the legacy immersion-cooling hosting/mining segment (~$61M TTM revenue, immaterial to NAV and not separately cash-generative).

Reasoning: BMNR is functionally an Ethereum treasury vehicle rather than an operating business, so intrinsic value is best captured by marking its disclosed digital-asset and cash holdings to current market prices net of liabilities, rather than discounting GAAP earnings that are dominated by non-cash fair-value swings in the ETH position (reported TTM net loss of -$8.77B is a mark-to-market artifact, not an operating result).