---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/40536497.md"
description: "$BitMine Immersion Tech(BMNR.US) Today, Tom Lee gave a speech at the Consensus conference, mentioning that as the company approaches its 5% target, it will slow down the pace of ETH accumulation.I think this is a necessary move. The mNAV has been fluctuating around 1 for 5 months since December '25. Without a breakthrough in ETH, it's hard for the premium to expand significantly. Currently, the company has 700 million in cash on its books, still 800k ETH short of the target, requiring over 1 billion in additional financing. The current staking volume is sufficient, and staking yields are stable. Slowing down accumulation also means reduced financing pressure. We'll see if the mNAV can slowly recover in the future."
datetime: "2026-05-07T22:48:26.000Z"
locales:
  - [en](https://longbridge.com/en/topics/40536497.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/40536497.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/40536497.md)
author: "[lyhalfway](https://longbridge.com/en/profiles/3372973.md)"
---

# $BitMine Immersion Tech(BMNR.US) Today, Tom Lee ga…


### Related Stocks

- [BMNR.US](https://longbridge.com/en/quote/BMNR.US.md)
- [BMNRD.US](https://longbridge.com/en/quote/BMNRD.US.md)

## Comments (8)

- **Chouyer · 2026-05-08T04:36:32.000Z · 👍 1**: Actually, bmnr has been quite strong recently, it's just that eth's performance has been really poor. eth is probably the worst-performing asset in the past month😂
  - **lyhalfway** (2026-05-08T04:59:14.000Z): Yeah, wait for the catch-up rally. ETH/BTC has also fallen to the target level.
- **寄 · 2026-05-08T02:29:39.000Z · 👍 3**: There are too many retail investors in this one 🫠 The intraday volatility is huge.
  - **lyhalfway** (2026-05-08T02:43:10.000Z): Hmm, the downward fluctuation is quite significant😂
- **探险家Grit · 2026-05-07T22:50:33.000Z · 👍 1**: Okay, uncle
- **知行合一再投资 · 2026-05-07T22:49:51.000Z · 👍 2**: Can only rely on the major cycle or a new engine for support.
  - **lyhalfway** (2026-05-07T22:54:21.000Z): Hmm, but it's already quite good to achieve 5% in less than 2 years.
  - **知行合一再投资** (2026-05-07T23:02:34.000Z): Indeed, now we can only look at the steady earnings from pledged assets.Without hitching a ride on the AI engine, it's hard to achieve an independent market trend by solely playing the marginal cost a