--- title: "BitMine Nearing Inflection Point as Ethereum Buying Nears Key Target" type: "News" locale: "en" url: "https://longbridge.com/en/news/293873679.md" description: "BitMine Immersion Technologies (BMNR) is nearing an inflection point as its Ethereum accumulation approaches the 6 million ETH target. With over 5.77 million ETH held, the company aims to stop dilution and transition to a cash generator via staking. Analysts project revenue growth to $125M this year and $429M next year. BMNR is considered undervalued with a market cap below its crypto holdings and no debt. Consensus analyst price target is $28, significantly above current levels." datetime: "2026-07-26T22:56:14.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293873679.md) - [en](https://longbridge.com/en/news/293873679.md) - [zh-HK](https://longbridge.com/zh-HK/news/293873679.md) --- # BitMine Nearing Inflection Point as Ethereum Buying Nears Key Target **BitMine Immersion Technologies** (NYSE:BMNR) is nearing an inflection point as its **Ethereum** (CRYPTO: ETH) accumulation nears the end, while its valuation becomes highly attractive. BMNR was trading at $15.80 on Friday, down substantially from last year’s high of $160. It remains slightly above the year-to-date low of $12.86.  ## BitMine Immersion Will Hit Its 6 Million Target Soon BitMine has accumulated over 5.77 million ETH coins, which are now valued at over $11 billion. This means that the company needs to buy 222,532 Ethereum coins, currently worth over $422 million. If the trend continues, it will hit its 6 million target in the coming months. Completing the purchases will benefit BitMine’s shareholders in two main ways. First, it will likely conclude the dilution that has pushed its outstanding shares to 603 million from less than 239 million last year.  Second, the company will now transition from being a highly dilutive firm into a cash generator. It will achieve that through staking its Ethereum holdings, which will generate about 3% annual return. The estimated annual return will be about 180,000 coins, which are now valued at over $342 million. **Read Also: Musk's Net Worth Down By More Than $600 Billion as SpaceX, Tesla Woes Mount** Estimates by two analysts are that BitMine’s annual revenue will jump to $125 million this year. They also expect that the revenue will jump to $429 million next year. For example, **SharpLink** (NASDAQ:SBET), a similar company, has already generated 23,918 ETH tokens in revenue since it started staking its tokens.  ## BitMine Has Become Highly Undervalued Meanwhile, there are signs that the company is highly undervalued. It has a market capitalization of $9.52 billion, much lower than its Ethereum holdings of $11 billion.  In addition to Ethereum, it also owns a $180 million stake in Beast Industries, $58 million stake in **Eightco** (NASDAQ:ORBS), and $385 million in cash and marketable securities. It also owns 207 **Bitcoin** (CRYPTO: BTC), currently worth over $13.2 million. > 1/ > BitMine provided its latest holdings update for July 20, 2026 > > $11.5 billion in total crypto + "moonshots": > – 5,777,468 ETH at $1,879 per ETH per ETH (per @coinbase) > – 207 Bitcoin (BTC) > – $180 million stake in Beast Industries @MrBeast > – $58 million stake in Eightco… > > — Bitmine (NYSE-BMNR) $ETH (@BitMNR) July 20, 2026 Most notably, unlike **Strategy** (NASDAQ:MSTR), BitMine has no debt. Its only liability is from its preferred stock, which is expected to cost it almost $40 million a year.  The company also plans to use its free cash flow to start repurchasing its stock, with Lee targeting $4 billion over time. These events, and the potential Ethereum rebound, may lead to a strong recovery over time. Benzinga data shows that the consensus target among analysts is $28, much higher than where it is today. **Read Also: Top Three DRAM ETF Stocks to Watch This Week: Samsung, SK Hynix, Seagate** _Image: Shutterstock_ ### Related Stocks - [BMNR.US](https://longbridge.com/en/quote/BMNR.US.md) - [ETHE.US](https://longbridge.com/en/quote/ETHE.US.md) - [ETH.US](https://longbridge.com/en/quote/ETH.US.md) - [EZET.US](https://longbridge.com/en/quote/EZET.US.md) - [CETH.US](https://longbridge.com/en/quote/CETH.US.md) - [ETHV.US](https://longbridge.com/en/quote/ETHV.US.md) - [ETHW.US](https://longbridge.com/en/quote/ETHW.US.md) - [BMNG.US](https://longbridge.com/en/quote/BMNG.US.md) - [QETH.US](https://longbridge.com/en/quote/QETH.US.md) - [BMNU.US](https://longbridge.com/en/quote/BMNU.US.md) - [FETH.US](https://longbridge.com/en/quote/FETH.US.md) - [EETH.US](https://longbridge.com/en/quote/EETH.US.md) - [ETHA.US](https://longbridge.com/en/quote/ETHA.US.md) - [ETHT.US](https://longbridge.com/en/quote/ETHT.US.md) - [ETHU.US](https://longbridge.com/en/quote/ETHU.US.md) - [ETU.US](https://longbridge.com/en/quote/ETU.US.md) - [ETHD.US](https://longbridge.com/en/quote/ETHD.US.md) - [ETQ.US](https://longbridge.com/en/quote/ETQ.US.md) - [SETH.US](https://longbridge.com/en/quote/SETH.US.md) - [YETH.US](https://longbridge.com/en/quote/YETH.US.md) - [BMNZ.US](https://longbridge.com/en/quote/BMNZ.US.md) - [YBMN.US](https://longbridge.com/en/quote/YBMN.US.md) - [ETHHKD.VAHK](https://longbridge.com/en/quote/ETHHKD.VAHK.md) - [ETHUSD.VAHK](https://longbridge.com/en/quote/ETHUSD.VAHK.md) - [SBET.US](https://longbridge.com/en/quote/SBET.US.md) - [ORBS.US](https://longbridge.com/en/quote/ORBS.US.md) - [MSTR.US](https://longbridge.com/en/quote/MSTR.US.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) - [SKHY.US](https://longbridge.com/en/quote/SKHY.US.md) - [STX.US](https://longbridge.com/en/quote/STX.US.md) - [BMNRD.US](https://longbridge.com/en/quote/BMNRD.US.md) - [OCTO.US](https://longbridge.com/en/quote/OCTO.US.md) - [STRF.US](https://longbridge.com/en/quote/STRF.US.md) - [STRC.US](https://longbridge.com/en/quote/STRC.US.md) - [STRK.US](https://longbridge.com/en/quote/STRK.US.md) - [STRD.US](https://longbridge.com/en/quote/STRD.US.md) ## Related News & Research - [Pendle: Enables deposits into Alchemix Mix-Yield Tokens - 31 Jul 2026](https://longbridge.com/en/news/294441787.md) - [Ethereum: Glamsterdam upgrade lands - Aug 2026](https://longbridge.com/en/news/294720883.md) - [Flag Ship Acquisition Targets AI Compute, Aircraft Engines for Cash Flow](https://longbridge.com/en/news/294852890.md) - [Bybit Launches New DCA Challenge with Up to 55,000 USDT in Rewards for BTC, ETH and XAUT Auto-Investing](https://longbridge.com/en/news/294195061.md) - [LayerZero: Tokenized Deposit Transfers enable cross-chain bank deposits - 27 Jul 2026](https://longbridge.com/en/news/293898431.md)