r/BMNRInvestors

I first bought about $25000 of crypto (70% BTC / 30% ETH) in Jan 2021, I was 24 at the time and backpacking in Australia, I’d never invested in anything before and I remember making a few grand in the first couple of weeks, things were great.

Fast forward a year and a half, that same $25000 investment was worth $4600. I felt shit but I didn’t cash out, wrote it off as a learning opportunity to not get sucked in by the hype and hoped it might go back up one day and moved on (luckily this was during Covid and with the working from home, limited expenses etc. I was saving more than usual so it didn’t affect me too bad).

Another 2 years later, I’d kinda forgotten about it, checked the brokerage and it was worth $30000. I was obviously delighted and cashed it out.

The whole time I was kicking myself and feeling shit about throwing away that money, I should have been buying. Crypto was ‘dead’ and all my friends were bantering me for losing my money. Even though it feels completely wrong, you HAVE to buy the fear. Especially in Crypto, we all know it’s a cycle and will be back.

Now with regards to ETH and BMNR. When I bought that crypto back in 2021, there was no clarity act, there were no institutions building on the blockchain, the president didn’t want a crypto capital of the world, the word tokenisation didn’t exist. And ETH was the same price then as it is today.

For me, a key bull thesis is this:

• Ethereum's value is not the transactions fees (which is being siphoned by L2s), but rather the trust layer and security it provides institutions. ✅

• Institutions will adopt Ethereum because it is the most decentralized and have the best uptime. ✅

• Institutional adoption of Ethereum will raise the value of Ethereum. Because To validate or secure their own activity, institutions are likely to stake ETH, removing supply from circulation. Less liquid supply against rising demand pressures price upward. ???

The last part I don't quite understand. Couldn't institutions act as free riders and depend on OTHER people to provide the decentralization and security? Or maybe I'm not understanding it correctly.

When I ask LLMs why Tom Lee and Etherealize are so vague on the last point, they say it's because they're trying to thread the needle for regulatory reasons.

Internet protocols like TCP/IP are critical to infrastructure, but no one is making money from it. Why is Ethereum different?

But not the Long-Term-Holders. You have to be patient, don't think in weeks. Think in years

Back in the 1940s/50s, strategies for investing were pioneered based around buying stocks when their prices are considered cheap as opposed to when they're expensive.

Despite almost a century having passed since then, the abundance of people with learning problems in this subreddit is pretty high based on the posts I've read since joining some time ago, so I thought I'd help out with this handy guide. It only has two parts, so anybody can play along.

1. During a bull market, wait for absolute euphoria and people saying 'new paradigm' etc, then sell.
2. During a bear market, wait for absolute capitulation and misery, then buy.

I haven't bought a single share of BMNR yet, despite watching it for the last 7 months. For some reason there seems to be this bizarre need to act frequently/right now rather than just waiting for peak desperation, which is where the most appropriate entry point will appear.

I'll be scaling in steadily once we go below $15. All things considered, we could see as low as $5 come Q3/4 and beyond. I'm hopeful for that.

In the meantime, please make sure to keep posting your complaints, your whining, your emotional rants; they're a great benchmark to determine just how much despair retail is in. In addition, you can also look into hobbies to pass the time like gaming, gaming and playing video games while thinking about how the world has treated you unfairly.

Not trying to stir anything up — genuinely curious, especially with BMNR/ETH sentiment feeling a little mixed lately.

Has anyone here been following $FCRS & FCRS/WS? Since it’s Tom Lee’s SPAC and still pre-deal, I was wondering what people think it could eventually merge with.

Do people think it stays in the crypto/digital asset lane, maybe something ETH or infrastructure related? Or could it pivot more toward AI, quantum, energy, fintech, or broader infrastructure themes?

Also wondering what people think regarding timeline. I know there’s no announced target and everything is purely speculation at this point — just interested in hearing different opinions from people following the space.

Not financial advice, obviously. Just curious what type of company people think would actually fit the sponsor/team.

Not sure the right place for this topic but there's a clear connection between World ID/Coin + EightCo/Orbs + Tom Lee/Bitmine (throw in Cathy Wood / ARK) + Sam/Open AI.

My thoughts - if ORBS continues to trade below it's NAV would BMNR ever acquire it? Would this or something like it be good for World? For those that don't know, BMNR is run by Tom Lee and is the largest Ethereum treasury company with increasing exposure to "moonshots", like its investment in EightCo. Their goal is to increase their exposure to both ETH and other moonshots. If ORBS trades at a discount, further investment or full acquisition seems to make sense (to me) - giving them more ETH, more exposure to ORBS and of course the exposure to OPEN AI, World etc, Mr. Beasts.

My sense is that there must be something developing between all these parties, in terms of ai/crypto infra, new tech (e.g. verification), private markets exposure for retail investors, and content distribution. This is all beyond my area of expertise but I find it fascinating but very limited places to learn more, or at least find others that might be having the same thoughts.

Anyone else here given this any thought and/or think it would be additive to World ID growth + exposure for Worldcoin?

I’ve been seeing alot of posts on BMNR lately, and alot of people still see it as
''just an ETH treasury company''

the MAVAN launch shows they’re building something much bigger.

MAVAN Supported Networks right now:

• Ethereum (ETH)
• Solana (SOL)
• Near (NEAR)
• EigenLayer (EIGEN)
• Cardano (ADA)
• Polkadot (DOT)
• Hyperliquid (HYPE)

They’ve already disclosed that SOL, HYPE, and CC are being staked on MAVAN.

Interesting note: CC isn’t on the official supported networks list yet, which makes me think it could be BMNR’s own position. (Already covered that in an article, just on another angle)

The real story is the external client assets side. Every time institutions bring assets onto MAVAN, BMNR earns staking fees without owning the underlying assets. Those assets tend to stick around, so the fee revenue compounds nicely over time.

MAVAN currenly has $2B in onboarded assets already in 2 months.

I built a simple model based on my recent article.
Even in a very conservative scenario (ETH stays flat at $2,200 for the next 5 years and they only onboard ~$1B in new external AUM per month)

The external MAVAN fee business would eventually generate more annual cash flow for BMNR than its own ETH treasury staking income over a longer time period.

(The fees BMNR makes on AUM isn't disclosed, so i just did 10% based off of Lido, their competitor)

You can play with the assumptions yourself here:
https://mavan-income-model.vercel.app/

Full article on why the market still isn’t properly modeling MAVAN: (Its free, as always)
https://alchemyresearch.substack.com/p/the-market-still-is-not-modeling-mavan

I’ve written several other pieces on BMNR/MAVAN as a staking infrastructure and treasury compounder if you want deeper dives.

Selling shares to buy back makes no sense, and neither does selling staking rewards for cash / putting selling pressure on the underlying to raise cash. Presumably BMNR will spend most of their cash acquiring ETH and run a pretty lean cash balance after achieving targets. And right now, there is no real cash flowing component to the company, so where would funds for a buyback come from?

Most people are treating BMNR as an ETH proxy, buy it when ETH goes up, sell it when ETH drops. But that framing undersells what the company is actually building.

BMNR is sitting on real infrastructure: immersion cooling assets, a validator stack, and MAVAN, their institutional-grade Ethereum staking platform. The bones of a Digital Asset Infrastructure company are already there. The market just hasn’t priced it that way yet.

The rerating happens when a few things click into place:

1. Named institutions go live on MAVAN
   Yield-bearing ETH ETFs are coming. When they do, BlackRock, Grayscale, and Fidelity will need institutional-grade staking rails behind the scenes. MAVAN is already architected for exactly that use case. One public enterprise client announcement changes the entire narrative.

2. Multi-chain expansion goes live
   MAVAN running on Solana, AVAX, and Sui means revenue that doesn’t move exclusively with ETH price. That’s the single biggest structural shift BMNR can make, earn from the broader PoS economy, not just one chain.

3. Services revenue breaks out in earnings
   Right now, the market sees ETH holdings on the balance sheet and prices BMNR accordingly. The day services and staking fee revenue shows up as a distinct line in earnings, the multiple conversation changes.

The moonshot I think they should prioritize:
Post-quantum validator keys and wallet migration tooling. NIST finalized its post-quantum cryptography standards in 2024. Institutional buyers (pension funds, sovereign wealth, asset managers) are starting to ask about cryptographic risk posture. Nobody in the institutional staking space owns this narrative yet. First mover here builds a genuinely defensible moat.

IMO they need to aggressively shift the narrative from being a Digital Asset Treasury to a Digital Asset Infrastructure company!

Curious what the community thinks, are there other product bets or catalysts you’d add to this list?

The entire crypto space is dependent on Bitcoin. I was hopeful that bitcoin would finally break the 4 year cycle, but it’s clear at this point that is not likely to happen. Knowing that, the entire crypto space is in winter for at least the rest of the year. Don’t expect BMNR to go anywhere until bitcoin starts to have meaningful moves back to the upside. Odds are more likely it will rebound back to new all time highs in the coming years, with all the money printing that is going to keep happening. ETH will follow as well and the treasury companies will get their day in the sun again but not anytime soon. Either you have this reality and hold anyway (I am).. or sell it all and walk away. Personally I am not concerned with BMNR, but I wish Tom Lee would stop with his overly bullish calls on ETH and just be honest with people about the cycles.

Let's face it, Ethereum lacks a ton of fundamental value:

• Market cap of $259 billion vs $800 million in annualized fees. This is a 329 p/e ratio even if there wasn't further dilution
• Continued dilution (creation of more eth)
• Slow annual growth and fee reductions lower revenue, plus continued competition from other chains, private chains, and fiat financial systems
• Ethereum transactions are not private, not reversible, and DeFi apps are full of vulnerabilities all the time and harder to code than private chains or centralized databases
• Stable coin growth actually draws more value into the fiat system, not into the fully decentralized native tokens
• Almost nobody uses Eth for payments, they just use it for negligible transaction fees relative to the market cap

Crypto as a whole is great for some niche use cases like grey and black markets. However, most of the world doesn't run on this and uses fiat banking systems which work great and have lots of protections for example privacy and the ability to rollback transactions when something breaks. DeFi will not take over everything but will solve some niche problems like some types of businesses that banks don't want to support, or for example black market trade across sanctioned countries. These are all niche cases, however. If you are betting on Ethereum or other DeFi taking over the whole global economy, I think you are sorely mistaken.

You have basically been buying into a bubble, it has very little fundamental value relative to the price, and charlatans like Tom Lee who is a part time employee is using his perceived financial and economic guru status to con you into buying BMNR when it's simply a bad investment. My advice is to stick with growth stocks in general. Let the crypto bubble deflate until it's back down to reasonable prices.

My price target: BMNR to $4.50

I don't currently hold either a long or short position.

Goggle almost 3x since last year
SPY just bellow ATH
Everybody is tokenizing
Clarity Act goes further!
Most importnat we are staking ! (Incredible bussiness)

Holding long term.
Do not allowed to think.

We are the winners, no matter the price is, we can still find excuse !

Cheers! (Glass of taped water for everyone one me ! )

So when moon?