Bitmine Immersion Technologies, Inc. (BMNP): fair value, margin of safety and Wheel Score

Is BMNP undervalued?

Bitmine Immersion Technologies, Inc. (BMNP) closed at 98.88 on 16 Oct 2026, 5494% above the GLS average fair value of 1.77. 3 of the 3 models that produced a number value the shares below the current price. A gap this wide usually means the market is paying for growth or a story the trailing numbers do not show yet; the models work from filed results, not forecasts, so they are conservative by design.

The average is built from just 3 models (DCF, 10 Cap, DDM) - the rest returned nothing because an input they need (dividends, free cash flow, book value) is zero or negative - so treat it with more caution than usual.

The nightly engine files BMNP under Speculative / Distressed - negative earnings or a Piotroski score of 3 or less - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.

Nine valuation models for BMNP

Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.

Quality and financial health

Bitmine Immersion Technologies, Inc. scores only 4 of 9 on the Piotroski F-score, which fails the Sunday Scan's "6 or more" rule. A reading this low means several of the basic tests - positive earnings, positive operating cash flow, falling debt, no new share issuance - are not met. A GLS Moat score of 3.1/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.

Returns on capital are thin or negative - ROIC 4.0%, ROE 4.0%, ROA 4.0% - with debt at 0.00 times equity and negative free cash flow.

The dividend yield is 0.04% with a payout ratio of -0% - a small yield that leaves most of the earnings in the business.

Institutional ownership scores 5/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales.

Wheel Score 23: No options

No options are listed on Bitmine Immersion Technologies, Inc. in our nightly snapshot. The Wheel Score is therefore capped at 39 (it reads 23) and the stock is left out of every options screen; the fair value and health figures above are still useful for a plain stock position.

Volume runs at 15k shares a day on a market cap of $12.7B, with a beta of 1.83 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score gives that 10 of 20.

The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.

Upcoming events

The next earnings report is due on 20 Nov 2026, 35 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium. The shares go ex-dividend on 20 Oct 2026 (0.1847 per share), so a covered call sold before then carries a small early-assignment risk around that date.

Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.

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