Is BMNR or BTCT more undervalued in 2026?

CirclFi compares BitMine Immersion Technologies, (BMNR) and BTC Digital Ltd. (BTCT) using 13 institutional-grade valuation models. BMNR has a Quality of Company score of 6.4/10 while BTCT scores 1.8/10.

Which is a better buy — BMNR or BTCT?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do BMNR and BTCT valuations compare?

BMNR at $19.27 and BTCT at $1.14 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

BMNR vs BTCT Valuation Comparison 2026 — Intrinsic Value Analysis

BMNR

Finance Services

BitMine Immersion Technologies,

Quality

6.4

out of 10

Value Trap

SAFE

Price

$19.27

Last close

Models

13/13

Active

BTCT

Finance Services

BTC Digital Ltd.

Quality

1.8

out of 10

Value Trap

SAFE

Price

$1.14

Last close

Models

9/13

Active

Model-by-Model Comparison

Model	Type	BMNR Fair Value	BMNR Upside	BTCT Fair Value	BTCT Upside
Bayesian DCF	Intrinsic	$4.85	-74.9%	$0.22	-80.9%
Earnings Power Value	Intrinsic	$8.48	-56.0%	—	—
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$18.34	-4.8%	$1.27	+11.6%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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BMNR vs BTCT — Which Stock Is More Undervalued?

BMNR scores higher with a 6.4/10 quality rating vs BTCT's 1.8/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing BitMine Immersion Technologies, (BMNR) and BTC Digital Ltd. (BTCT) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

BMNR currently trades at $19.27 with a QOC of 6.4/10, while BTCT trades at $1.14 with a QOC of 1.8/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).