To The Moon

$Coinbase Global, Inc.(COIN)$ $Strategy(MSTR)$ $BitMine Immersion Technologies Inc.(BMNR)$ 🔥📈Ethereum’s stealth treasury giant? BitMine could turn this earnings season upside down🚀💎

I’m extremely confident BitMine Immersion Technologies ($BMNR) is one of the most mispriced and asymmetric opportunities in the market right now. It’s not just a crypto stock, it’s quickly becoming Ethereum’s answer to MicroStrategy. After a brutal dilution-led collapse, I believe the market is missing the scale of BitMine’s on-chain NAV growth, ETH treasury expansion, and its asymmetric setup during crypto earnings week. While it’s not scheduled to report, I’m watching it more closely than many of the names that are.

💥 I’m looking at entering after mass capitulation and ARK-validated reaccumulation

BitMine plunged over 75% from its $124.12 high down to $33.14 after a wave of PIPE dilution and a 70M+ warrant resale filing. But that collapse triggered capitulation and now a stealth reaccumulation. ARK Invest, which once faced a $50M drawdown, resumed buying, showing renewed institutional confidence. Price is consolidating above the $33.69–$41.74 support range, backed by volume and key Fib levels. MACD is turning up. RSI is recovering. The technicals are aligning.

📊 BitMine’s NAV per share is exploding as valuation compresses

BitMine’s ETH per share surged from ~0.0016 to ~0.0065 in July alone. With ETH trading near $3,900, that implies NAV/share of ~$25. Yet the stock trades at ~$41—just 1.6x NAV. That’s a staggering compression from its peak multiple near 30x. Compare this to MicroStrategy ($MSTR), still hovering near 2.5x NAV. BitMine is not only cheaper, but growing NAV/share faster. Fundstrat estimates over $100M in on-chain income last month alone. Finality models a long-term valuation range from $40 to as high as $1,852 per share depending on ETH’s market cap trajectory.

💎 I am looking at positioning during earnings week for maximum torque

This is crypto’s stealth re-rating window. While BitMine isn’t scheduled to report, earnings from peers like Coinbase and MicroStrategy could catalyze a narrative shift around digital asset treasuries. If ETH surges or NAV growth stories gain attention, BitMine could rerate by association. Its fundamentals are already strengthening, and it’s trading below NAV growth velocity. Unlike Coinbase ($COIN), which is weighed down by declining volumes and fee compression, BitMine is compounding value on-chain. Its model is more efficient, leaner, and levered directly to ETH’s price, not trading activity.

💡While the market’s gloom persists, BitMine could ignite a sentiment reversal in crypto. Its NAV/share is growing, its treasury is expanding, and its model isn’t widely understood yet. This is what asymmetric setups look like before the spotlight hits.

I am convinced BitMine offers the cleanest risk-reward in crypto equities right now!

With a current NAV/share of ~$25 acting as a tangible floor, the downside is buffered. But upside? That could be exponential. A rerating to even 2.5x NAV, a level below MSTR, implies $62.50. A return to higher momentum multiple territory would send it much higher. Technically, a breakout above $55 confirms trend reversal, with Fibonacci targets at $72.21 and $82.85. There’s little overhead until $100+. MACD and RSI support a move, and low options activity could shift fast if sentiment flips.

📉 I’m watching the short pressure mount

As of 28Jul25, BitMine’s short volume spiked to 5.04M shares with a 10.33% short ratio and 17.06% of the float shorted. NASDAQ and NYSE shorts total over 5M shares. With open short interest climbing back to 940.1K shares and 1.0 days to cover, we may be nearing inflection. Add in a low-float setup, earnings momentum, and an ETH-denominated NAV surge, and you’ve got the makings of a potential squeeze. There’s still minimal options open interest, but that may shift fast with a bullish breakout or treasury headline. This setup now carries the tension of both fundamentals and fuel.

🌍 Zooming out: why this is the crypto equity I’m watching above all others

Big Tech names like Alphabet ($GOOGL) and Amazon ($AMZN) may beat on Cloud or ads, but face margin compression and saturation risk. Coinbase ($COIN) is pricing in earnings volatility, yet faces weak trading volume. BitMine stands apart, it doesn’t rely on user activity, and its treasury model scales directly with ETH’s growth. As ETH adoption accelerates, BitMine becomes a pure-play treasury proxy. This cycle, the story is NAV compounding, not volume.

🪙 Fundamentally, it’s Ethereum’s most misunderstood vehicle. Technically, it’s rebounding off layered support. Sentiment-wise, it’s flying under the radar while institutions reload. I believe this is crypto’s breakout equity for Q3.

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Trade like a boss! Happy trading ahead, Cheers, BC 📈🚀🍀🍀🍀

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