What is BMNRc?
BMNRc is a Coinbase B20 tokenized stock, a tokenized share of BitMine Immersion Technologies (BMNR), listed as an ERC-20 token on Base. Coinbase lists it, and no tokens have been issued yet, so it is not available to trade. It settles into your own Mo smart wallet rather than a brokerage account, and Coinbase makes it available to eligible non-US persons only. BitMine Immersion Technologies is a public crypto-mining company.
What to weigh
- You hold a Coinbase tokenized share of BitMine Immersion Technologies (BMNR) on Base, in a Mo wallet rather than a brokerage account.
- Coinbase lists it, and no tokens have been issued, so it is not available to trade.
- Coinbase makes it available to eligible non-US persons only.
- BitMine Immersion Technologies is a public crypto-mining company.
- One token does not stay equal to one share. When the underlying pays a cash dividend or splits, Coinbase updates an onchain multiplier and the token balance stays the same. A cash dividend is converted into more underlying shares, not paid out as cash. A split moves the share price and the multiplier in opposite directions. Mo shows the share count from that multiplier. See how B20 handles dividends and splits.
