Miners Traded At 20x Earnings In 2021 - BMNR Is At 3x Today

The "Cycle" Top: We Are Not Even Close

Every day in the comments, I see the same question: "Is it too late? Did I miss the boat?" The answer is in the history books. Look at 2021.

In the peak of the last Bull Run, crypto mining stocks were trading at absurd valuations—20x to 30x Earnings. People were buying hype at any price. Today, BitMine Immersion ($BMNR) is trading at roughly 3x Earnings.

We are not at the top. We are barely off the bottom. The sentiment feels euphoric because the price is moving, but the valuation is still incredibly depressed. We are currently in the "Disbelief" phase of the market cycle, where investors are terrified of a crash, unaware that the real expansion hasn't even started.

In this video, we compare the valuation metrics of the 2021 Top vs. the 2025 Setup. We explain why the "Multiple Expansion" (the move from 3x to 20x) is where the real life-changing money is made, and why mathematically, we are still in the First Inning.

In this video, we breakdown:

The 2021 vs. 2025 Chart: Overlaying the P/E ratios to show the massive gap in valuation.

The "Multiple Expansion" Theory: How a stock goes from $30 to $200 not by earning more, but by investors paying more for those earnings.

The "Euphoria" Check: Why the lack of mainstream media coverage proves the retail herd hasn't arrived yet.

The Cycle Roadmap: Identifying the real top signals to watch for (hint: it's not when P/E is 3).

Disclaimer: This video was created with the assistance of AI tools and is provided for informational and educational purposes only. I am not a licensed financial advisor, and nothing in this content should be considered financial advice. All investments involve risk.

#MarketCycle #BullRun #BMNR #Valuation #PEratio #CryptoMining #StockMarketHistory #Investing #BitMine #DisbeliefPhase