Bitmine Immersion Technologies, Inc. logo BMNR - Bitmine Immersion Technologies, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY 0
BUY 2
HOLD 0
SELL 0
STRONG
SELL 0
| PRICE TARGET: $30.30 DETAILS
HIGH: $30.30
LOW: $30.30
MEDIAN: $30.30
CONSENSUS: $30.30
UPSIDE: 72.45%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Banks, Insurers & Asset Managers 85% confidence

Primary model: P/Tangible Book × ROE Quality

Valuation Signal Undervalued Strong
Trading 49.6% below fair value
Current Price $17.57
Bear Case $24.39 38.8% upside ($24.39 - $17.57) / $17.57 = 38.8% ROTCE 4.0% → 0.30x TBV
Fair Value $34.84 98.3% upside ($34.84 - $17.57) / $17.57 = 98.3% ROTCE 4.0% → 0.30x TBV
Bull Case $45.29 157.8% upside ($45.29 - $17.57) / $17.57 = 157.8% ROTCE 4.6% → 0.30x TBV

Adjust Assumptions

4.0%
13.5%

Key Value Driver

ROTCE (4.0%) vs. cost of equity (13.5%)

Implied Market Multiple 1.15x

Plain-Language Summary

With ROTCE of 4.0% vs. 13.5% cost of equity, fair P/TBV is 0.30x on $15.26 tangible book, implying $34.84 per share.

Warnings

⚠ Traditional cash flow models don't work well for banks — lending activity distorts how much cash the business actually generates.
⚠ Common valuation shortcuts don't apply here — for banks, interest payments are a core business cost, not overhead.
⚠ Return on equity (4.0%) is below the minimum investors require (13.5%). This means the bank is worth less than the net assets on its books.

Key Risks

  • Book value quality matters as much as level — check loan loss reserves
  • Interest rate sensitivity creates non-linear earnings surprises
  • Insurance reserving is actuarial, not financial — errors emerge slowly