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.”

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.”

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