Jim Cramer Says “You Don’t Want to Touch” Bitmine Immersion

Bitmine Immersion Technologies, Inc. (NYSE:BMNR) is one of the stocks Jim Cramer talked about. Noting that the stock is up, a caller asked if it is a buy, and Cramer replied:

“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.”

Jim Cramer Says "You Don’t Want to Touch" Bitmine Immersion

A man in black suit holding a tablet looks at stock market data on a monitor. Photo by Tima Miroshnichenko on Pexels

Bitmine Immersion Technologies, Inc. (NYSE:BMNR) operates as a blockchain company focused on Bitcoin mining through self-mining and hosting services. The company also sells mining equipment and provides data center solutions with power, cooling, connectivity, security, and infrastructure management software. In the episode aired on July 31, when a caller inquired about the stock, Cramer responded:

“Alright, listen to me, sunshine, we don’t play that game. If you want to own that kind of stuff, just go buy some Bitcoin. Go, buy some Ethereum. I own them both. They’re fine.”

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.

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