InvestAnswers on $BMNR (Oct 26, 2026)
BMNR is heavily indebted: it spent about $24.5 billion on Ethereum now worth about $13.9 billion, an estimated loss near $6.42 billion, with ETH buying having slowed as if stopped and 55,000-58,000 more ETH still needed to reach a 5% supply target; the speaker frames excessive purchases as the account-damaging risk.
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Now, Bitmain, this company that's telling me, is a scam. They have come close to their 5% target. They own 4.95% of the total Ethereum supply, which is equivalent to approximately 6.05 million Ethereum after the addition of 10,000 Ethereum last week.
Ironically, they are the only ones buying Ethereum, as far as I know. But I think they need to buy between 55,000 and 58,000 additional Ethereum to reach their 5% target. Once again, the buying process slows down, as if it has stopped completely.
But now is the right time to buy, not later. Especially with regard to Bitmain, when I did my simple calculations, I found that they were heavily indebted . They have spent approximately $24.5 billion on Ethereum.
Their Ethereum wallet is worth more than 6 million Ethereum. The value of what they spent was $20.5 billion . The value of the Ethereum they currently own is approximately $13.9 billion.
This means they are incurring a loss estimated at approximately $6.42 billion. If they were able to convert this loss into Ethereum today, it would be worth 2.8 million Ethereum.
Therefore , as we mentioned earlier, the risk lies in excessive purchases that could severely damage your account. In any case, I think their net asset value premium is around 0.92, which is close to the usual range for these companies, where it is 0.95 and 0.92, and very close to MicroStrategy 's net asset value premium .