Jim Cramer on Bitmine Immersion: “Let’s Steer Clear of That”

Bitmine Immersion Technologies, Inc. (NYSE:BMNR) is one of the stocks Jim Cramer offered insights on. A caller inquired about the stock during the lightning round, and here’s what Cramer had to say in response:

“Okay, now, I think this is part of that year of magical investing that I’m telling you I think is over, and I don’t want you in anything that’s involved in the year of magical investing. Let’s steer clear of that.”

Bitcoin, mining

Photo by andre-francois-mckenzie on Unsplash

Bitmine Immersion Technologies, Inc. (NYSE:BMNR) focuses on blockchain-related activities, including digital asset treasury management, advisory services, and support for the bitcoin ecosystem. In addition, the company leases and sells mining equipment. During the August 14 episode, a caller asked Cramer whether the stock was a buy and he responded:

“Oh, Bitmine, okay, my colleague David Faber did a very long piece about what’s the real value of this thing in terms of the amount of shares outstanding. And all I can tell you is you don’t want to touch it.”

While we acknowledge the risk and potential of BMNR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BMNR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.