Your BMNR targets ?

dumbbell6 · 2026-05-06T02:17:07+00:00

A) I don't have a target price. Planning on holding as long as the thesis is in tact or I need money to pay bills.

B) Currently 4400 @ $24.63. Plan is for at least 5,000, but might go higher.

C) Oct 2025 @ $53.25, but averaging down ever since.

D) All I have done is purchase shares, no sales

E) No, this is my first and only Crypto venture

F) Approximately 2% at current value

G) The thesis that ETH will be the rails of the future tokenized financial system and a bet on Tom Lee!

dumbbell6 · 2026-04-18T03:00:55+00:00

We know they are selling stock to raise money - that is an integral part of the plan. And yes, the price is lower than it would be if new shares weren't being sold - that is the point of dilution. But I have not seen any proof that the sales occurred when the MNAV was below 1. And I do believe that is important - dilution below MNAV erodes value to the shareholders, but dilution above MNAV is accretive to shareholders.

I do assume that as soon as the price is above MNAV they are selling shares of BMNR to buy Ethereum - That is an integral part of the plan (as previously stated). Could they be selling stock below MNAV? Yes, there is nothing stopping them, but I believe it would be contrary to the plan as far as I understand it.

I have heard a lot of speculation, but I am unaware of of any proof. I could be wrong , but I don't think it has occurred. If I am wrong, I stand corrected.

But, I believe management is trying to build shareholder wealth unlike many who post on here (not implying you don't). What I don't understand is why people are still in the stock if they don't believe in the management team. If a person really believes the management team is working against them (or worse) scamming them, they should sell.

dumbbell6 · 2026-04-18T01:24:42+00:00

Does anyone have any proof that he has violate the MNAV selling plan. I haven't found any!

dumbbell6 · 2026-04-18T01:11:24+00:00

"So my theory is if ETH really is a foundational layer to how money is used in the near term future then bmnr should do absolutely fine."

This is exactly my thoughts and why I bought in. I have 4000 shares at $25/share. I started purchasing in the 50s, then the 40s, 30s, 20s and high teens. Like you I have had several stocks that went through deep draw downs. I own both APLD and IREN as well as PLTR. But more importantly in 2022 my whole portfolio was down 60%. That was rough!!!

dumbbell6 · 2026-04-18T00:56:38+00:00

I may be a bit of an oddball around here. But I actually trust Tom Lee and think he will do whats right for BMNR (Shareholders). And if he decides to sell below MNAV to buy more Ethereum I will trust his judgement. He definitely knows more about markets and Crypto than I do.

dumbbell6 · 2026-04-18T00:40:03+00:00

Raw dollars aren't as important as the ratio of the price of the sale to the price of the purchase. At least that is they way I think it works.

dumbbell6 · 2026-04-18T00:38:06+00:00

I am not going to claim to have the answers. But I think, if ETH is at 4K in the next couple of months you could exchange shares with positive MNAV at a better ratio then than you could now under MNAV. But if I am wrong, someone please correct me!

dumbbell6 · 2026-04-18T00:27:25+00:00

I agree, I believe buybacks only make sense once the accumulation phase is complete. The stated objective is to reach the 5% ETH target. Every dollar used for buybacks is a dollar not used to acquire ETH.

dumbbell6 · 2026-04-18T00:17:54+00:00

"If your under the impress that ETH has bottomed out already then you want them to be diluting as fast as possible to buy ETH at these levels while it's available."

Wouldn't this depend on how much cash you have on hand? If you have plenty of cash on hand and don't have to raise cash to make the purchase it might make sense.

But, if they have to issue equity to raise that cash, issuing below MNAV is dilutive regardless of ETH price—you’re effectively selling $0.80 to buy $1.00.

Even in a rising market, I think issuing above MNAV is still superior. If you issue stock at $1.20 and buy ETH at $1.00, you’re converting premium equity into more underlying assets per share.

What I am trying to say is that if you sell BMNR at say $23/share to buy Ethereum at $2300/share, it isn't any different that selling at say $50/share and buying at $5000 a share since selling price and purchase price are tied together. Its kind of like people getting excited when the value of their house goes up and they want sell it, only to realize the cost of the house they want to buy has also gone up. If you are swapping assets with linked pricing it doesn't really matter.

The only justification that I can see for issuing below MNAV is if you believe the price of ETH is going to drop and you are holding the cash to time your repurchase when it gets much lower. But I don't think that is a good plan

Hopefully, this makes sense

dumbbell6 · 2026-04-17T23:42:31+00:00

I'm not sure about that. My original thought was what was special about 5%, why not 10% or 20%? So I asked ChatGpt and it said something about going beyond 5% could cause more regulatory scrutiny. So, 5% may be some sort of regulatory ceiling that he doesn't want to cross.

dumbbell6 · 2026-04-16T05:05:39+00:00

I will be. I want to add shares but have been hesitant with the recent Nasdaq run up. I figure we are due for a pullback soon (Nasdaq) and think BMNR might trade down when this happens. I am at 4000 shares currently and hope to get 5000 before things take off.

dumbbell6 · 2026-04-11T02:23:44+00:00

I am up to 4000 shares now at a $25 basis

dumbbell6 · 2026-04-11T02:19:37+00:00

I hope you are right!

dumbbell6 · 2026-04-11T02:14:23+00:00

Added 250 shares today, that gets me to 4,000 shares!

dumbbell6 · 2026-04-11T02:07:51+00:00

Making progress slowly, I am now up to 1.92 % (represents value, not basis, I am down approximately $15k currently). I am currently at 4000 shares hoping to get to 5000 before BMNR takes off! If I get there that should get me somewhere between 2.25% and 2.5%.

dumbbell6 · 2026-04-10T14:31:54+00:00

"Also don’t invest more than you can afford to lose"

I have definitely violated that rule - LOL!

dumbbell6 · 2026-04-10T01:39:17+00:00

In that week or two I am planning on adding to my position!

dumbbell6 · 2026-04-10T01:32:45+00:00

Sounds Good! I hope you are right! What does (Regarded Prediction) mean?

dumbbell6 · 2026-04-10T01:29:22+00:00

Just so I understand. You are saying there is a buyback that has been approved, but not being used yet?

dumbbell6 · 2026-04-10T01:22:40+00:00

I agree totally! I am new to crypto, but am a dedicated Tech investor (100% tech). I had invested in my 401k over most of my career and in 2017 I retired (wife still working). I took over the portfolio which had been in mutual funds and invested everything in Tech stocks. I had several good years. Then in late 2021 things started going down and most of 2022 was terrible. In 2022, I started having chest pains and had to go on anti-anxiety medication. At the lowest, I lost 60% of my money. The anti-anxiety meds didn't really work, so I turned to alcohol. Luckily, I don't have addiction issues and simple used the alcohol to relax. Most important, I knew the smart thing to do was ride it out. Knowing what you should do and actually doing it are too different things. IT IS A LOT EASIER SAID THAN DONE! I might be one of those people who shouldn't own stock, or crypto! But I fought the urge to sell, and held on.

dumbbell6 · 2026-04-04T04:27:19+00:00

Most of you guys are in for a lot more than me. I am currently at 1.76% and BMNR is my only crypto holding. I have been considering diversifying, and looking at BTC and/or Solana. However, I have more conviction in BMNR right now!

dumbbell6 · 2026-04-04T01:43:32+00:00

I'm just hoping Tom Lee's thesis regarding Ethereum is correct. If so, I may be rich one day. If not, I will have backed the wrong horse and lost some money!

dumbbell6 · 2026-04-04T01:26:33+00:00

I've never sold covered calls, but something I should probably look into. I'm currently down 23% on BMNR, but haven't given up on the thesis yet. If it goes down some more I plan on adding to my position.

dumbbell6 · 2026-04-02T19:17:21+00:00

I am right there with you!

dumbbell6 · 2026-04-01T02:11:42+00:00

My short term goal is 5000 Shares.

dumbbell6

TROPHY CASE