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Jim Cramer recently gave his candid view on Bitmine (NYSE: BMNR).  Cramer 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,” after a caller noticed that the stock was up and asked if it was a buy. “I can only conclude that you don’t want to touch it”

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

Bitmine is a blockchain business that specializes in Bitcoin mining, offering hosting and self-mining services along with data center solutions that include power, cooling, connectivity, security, and infrastructure management software. The company also sells mining equipment.

When a caller asked about the stock in the July 31 episode, Cramer said, “Okay, listen to me, sunshine, we don’t play that game.”. Simply purchase some Bitcoin if you wish to own such items. Purchase some Ethereum now. Both of them are mine. They’re all right.

“Though we recognize BMNR’s potential as an investment, we think some AI stocks have more upside potential and less downside risk. if you’re searching for a very cheap AI stock that will also profit greatly from the onshoring trend and tariffs imposed by Trump.” The financial analyst added.

BitMine’s stock increased on Friday as markets rebounded from Federal Reserve Chairman Jerome Powell’s dovish comments. On Monday, BitMine revealed that its cryptocurrency holdings now total about 192 Bitcoin and 1.52 million Ethereum.

BitMine’s president, Tom Lee, stated that the company’s holdings of ETH increased by $17 billion to $6.6 billion in just one week, adding over 373,000 tokens, bringing the total from 1.15 million to 1.52 million tokens as institutional investors expressed interest and support in our pursuit of ETH’s “5 percent alchemy.