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BMNR vs. DUOL: Which Technology Services Stock Has More Upside Now?
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Key Takeaways
BMNR has acquired over 4.1M ETH and aims to hold 5% of the total Ethereum supply.
DUOL leverages AI and proprietary data to rapidly scale personalized learning content.
DUOL holds a current ratio of 2.82, indicating strong liquidity and short-term financial flexibility.
Duolingo (DUOL - Free Report) and BitMine Immersion (BMNR - Free Report) are notable players in the Zacks Technology Services industry. They operate with very different business models. Duolingo is a global mobile learning platform with operations across the United States, China, the United Kingdom and other international markets. Through its app, the company offers instruction in 40 languages and also provides a digital language proficiency testing service.
BitMine, based in Las Vegas, operates as a Bitcoin and Ethereum-focused company. Ethereum, the second-largest cryptocurrency by market value, plays a central role in BitMine’s long-term strategy. The company has increasingly emphasized the accumulation of crypto assets, positioning itself more as a long-term digital asset holder than a traditional operating business.
Given these contrasting models, it is worth examining both companies more closely to determine which technology services stock currently holds an edge and, more importantly, which one may represent the more compelling investment opportunity at this stage.
The Case for DUOL
Duolingo’s emergence as a leading force in digital education is largely driven by its sophisticated use of artificial intelligence and a vast pool of proprietary learner data. While many technology companies treat AI as a future objective, Duolingo has embedded it directly into the operating model — powering everything from course development to cost optimization — making AI both a core product feature and a key contributor to financial growth.
With access to one of the largest language-learning datasets globally, Duolingo uses data insights to enhance personalization, boost user engagement and expand into adjacent learning categories such as music and chess. This data-centric approach creates a durable competitive advantage, allowing the company to deliver highly adaptive learning experiences that are difficult for competitors to match. In addition to improving educational outcomes, AI significantly enhances operating efficiency.
Duolingo’s scalability in content creation further underscores its strength. In April, the company launched 148 new language courses, marking the largest expansion in its history. To put this in context, it took more than 10 years to build the first 100 courses, whereas AI-enabled development now allows Duolingo to roll out nearly 150 courses in a single year. This rapid pace of innovation strengthens brand leadership and reinforces user confidence by continually broadening the platform’s offerings.
Overall, the combination of AI-powered personalization, exclusive data assets and scalable, cost-efficient operations positions Duolingo as a disruptive leader in education technology. As global demand for flexible digital learning solutions continues to grow, the company’s innovation-driven and sustainable growth profile enhances its appeal as a long-term investment.
From a financial standpoint, Duolingo maintains a solid liquidity position. At the end of the third quarter of 2025, the company reported a current ratio of 2.82, well above the industry average of 1.58. A ratio above 1 suggests that Duolingo is comfortably equipped to meet its short-term liabilities, providing meaningful financial flexibility and downside protection.
The company’s earnings have surpassed the Zacks Consensus Estimate in three of the past four quarters, missing the mark once. The average beat is 24.5%.
BitMine currently stands as the world’s largest corporate holder of Ethereum (“ETH”). The company transitioned away from its legacy Bitcoin mining operations to pursue a new strategy focused on building the largest Ethereum treasury globally.
The strategic shift has been led by seasoned Wall Street executive Thomas Lee, co-founder of Fundstrat, who assumed the role of chairman. Last year, the company named Chi Tsang as its chief executive officer and added him to the board. More recently, BitMine appointed Young Kim as its chief financial officer and chief operating officer and also added him to the board, further strengthening the leadership team.
BitMine is also well positioned to benefit from the growing adoption of stablecoins. These digital assets are designed to maintain a stable value by being pegged to underlying assets such as the U.S. dollar. Stablecoins facilitate faster, lower-cost transactions, operate around the clock and enable seamless cross-border payments. Their price stability helps bridge the gap between traditional financial systems and the crypto ecosystem.
To support its strategic realignment, BitMine completed an initial $250 million PIPE private placement last year. Together with additional capital raises, the proceeds were deployed to acquire significant amounts of Ethereum.
As a result, BitMine has rapidly expanded its ETH holdings. According to a recent management update, the company holds approximately 4.14 million ETH tokens, with total crypto and cash assets exceeding $14 billion. Chairman Lee has stated that BitMine’s long-term objective is to accumulate 5% of the total Ethereum supply — a bold target that reflects strong conviction in Ethereum’s long-term value and the future of digital assets.
Currently, BitMine controls 3.43% of the total ETH supply, meaning it has already achieved roughly two-thirds of the stated goal. By steadily increasing the ownership of Ethereum, the company aims to support the institutional adoption of on-chain capital and real-world assets, positioning itself to generate long-term value as blockchain-based finance continues to expand. As of Jan. 4, the company’s crypto holdings included 4,143,502 ETH valued at $3,196 per token, 192 Bitcoin, a $25 million investment in Eightco Holdings and approximately $915 million in unencumbered cash. In the final week of 2025, the company acquired 32,977 ETH.
Reinforcing its commitment to shareholder returns, BitMine recently became the first large-cap crypto-focused company to announce an annual dividend. Late last year, the company declared a yearly dividend of $0.01 per share.
BMNR’s Superior Price Performance
Driven by efforts to actively increase its Ethereum holdings, BMNR’s shares have skyrocketed in excess of 298% ever since going public in June 2025. DUOL’s shares have declined significantly in the same timeframe.
Price Comparison
Image Source: Zacks Investment Research
End Note
BMNR continues to benefit from the aggressive strategy to expand Ethereum holdings, while the growing adoption of stablecoins across the digital asset ecosystem further supports its outlook. BitMine’s shareholder-friendly approach also stands out and the stock has delivered stronger price performance compared with DUOL.
The Wall Street average target price of $48.67 for BMNR stock suggests an upside of more than 61% from current trading levels.
Image Source: Zacks Investment Research
Additionally, the Federal Reserve’s move to conclude its Quantitative Tightening program and inject liquidity into the financial system is broadly expected to act as a tailwind for Ethereum prices, which could further enhance BitMine’s valuation.
Taking these factors into account, BitMine clearly emerges as the stronger performer and the preferred choice in this technology services comparison. BitMine currently carries a Zacks Rank #3 (Hold) and is better positioned than Duolingo, which has a Zacks Rank #4 (Sell).
Image: Bigstock
BMNR vs. DUOL: Which Technology Services Stock Has More Upside Now?
Key Takeaways
Duolingo (DUOL - Free Report) and BitMine Immersion (BMNR - Free Report) are notable players in the Zacks Technology Services industry. They operate with very different business models. Duolingo is a global mobile learning platform with operations across the United States, China, the United Kingdom and other international markets. Through its app, the company offers instruction in 40 languages and also provides a digital language proficiency testing service.
BitMine, based in Las Vegas, operates as a Bitcoin and Ethereum-focused company. Ethereum, the second-largest cryptocurrency by market value, plays a central role in BitMine’s long-term strategy. The company has increasingly emphasized the accumulation of crypto assets, positioning itself more as a long-term digital asset holder than a traditional operating business.
Given these contrasting models, it is worth examining both companies more closely to determine which technology services stock currently holds an edge and, more importantly, which one may represent the more compelling investment opportunity at this stage.
The Case for DUOL
Duolingo’s emergence as a leading force in digital education is largely driven by its sophisticated use of artificial intelligence and a vast pool of proprietary learner data. While many technology companies treat AI as a future objective, Duolingo has embedded it directly into the operating model — powering everything from course development to cost optimization — making AI both a core product feature and a key contributor to financial growth.
With access to one of the largest language-learning datasets globally, Duolingo uses data insights to enhance personalization, boost user engagement and expand into adjacent learning categories such as music and chess. This data-centric approach creates a durable competitive advantage, allowing the company to deliver highly adaptive learning experiences that are difficult for competitors to match. In addition to improving educational outcomes, AI significantly enhances operating efficiency.
Duolingo’s scalability in content creation further underscores its strength. In April, the company launched 148 new language courses, marking the largest expansion in its history. To put this in context, it took more than 10 years to build the first 100 courses, whereas AI-enabled development now allows Duolingo to roll out nearly 150 courses in a single year. This rapid pace of innovation strengthens brand leadership and reinforces user confidence by continually broadening the platform’s offerings.
Overall, the combination of AI-powered personalization, exclusive data assets and scalable, cost-efficient operations positions Duolingo as a disruptive leader in education technology. As global demand for flexible digital learning solutions continues to grow, the company’s innovation-driven and sustainable growth profile enhances its appeal as a long-term investment.
From a financial standpoint, Duolingo maintains a solid liquidity position. At the end of the third quarter of 2025, the company reported a current ratio of 2.82, well above the industry average of 1.58. A ratio above 1 suggests that Duolingo is comfortably equipped to meet its short-term liabilities, providing meaningful financial flexibility and downside protection.
The company’s earnings have surpassed the Zacks Consensus Estimate in three of the past four quarters, missing the mark once. The average beat is 24.5%.
Duolingo Price and EPS Surprise
Duolingo price-eps-surprise | Duolingo Quote
The Case for BMNR
BitMine currently stands as the world’s largest corporate holder of Ethereum (“ETH”). The company transitioned away from its legacy Bitcoin mining operations to pursue a new strategy focused on building the largest Ethereum treasury globally.
The strategic shift has been led by seasoned Wall Street executive Thomas Lee, co-founder of Fundstrat, who assumed the role of chairman. Last year, the company named Chi Tsang as its chief executive officer and added him to the board. More recently, BitMine appointed Young Kim as its chief financial officer and chief operating officer and also added him to the board, further strengthening the leadership team.
BitMine is also well positioned to benefit from the growing adoption of stablecoins. These digital assets are designed to maintain a stable value by being pegged to underlying assets such as the U.S. dollar. Stablecoins facilitate faster, lower-cost transactions, operate around the clock and enable seamless cross-border payments. Their price stability helps bridge the gap between traditional financial systems and the crypto ecosystem.
To support its strategic realignment, BitMine completed an initial $250 million PIPE private placement last year. Together with additional capital raises, the proceeds were deployed to acquire significant amounts of Ethereum.
As a result, BitMine has rapidly expanded its ETH holdings. According to a recent management update, the company holds approximately 4.14 million ETH tokens, with total crypto and cash assets exceeding $14 billion. Chairman Lee has stated that BitMine’s long-term objective is to accumulate 5% of the total Ethereum supply — a bold target that reflects strong conviction in Ethereum’s long-term value and the future of digital assets.
Currently, BitMine controls 3.43% of the total ETH supply, meaning it has already achieved roughly two-thirds of the stated goal. By steadily increasing the ownership of Ethereum, the company aims to support the institutional adoption of on-chain capital and real-world assets, positioning itself to generate long-term value as blockchain-based finance continues to expand. As of Jan. 4, the company’s crypto holdings included 4,143,502 ETH valued at $3,196 per token, 192 Bitcoin, a $25 million investment in Eightco Holdings and approximately $915 million in unencumbered cash. In the final week of 2025, the company acquired 32,977 ETH.
Reinforcing its commitment to shareholder returns, BitMine recently became the first large-cap crypto-focused company to announce an annual dividend. Late last year, the company declared a yearly dividend of $0.01 per share.
BMNR’s Superior Price Performance
Driven by efforts to actively increase its Ethereum holdings, BMNR’s shares have skyrocketed in excess of 298% ever since going public in June 2025. DUOL’s shares have declined significantly in the same timeframe.
Price Comparison
End Note
BMNR continues to benefit from the aggressive strategy to expand Ethereum holdings, while the growing adoption of stablecoins across the digital asset ecosystem further supports its outlook. BitMine’s shareholder-friendly approach also stands out and the stock has delivered stronger price performance compared with DUOL.
The Wall Street average target price of $48.67 for BMNR stock suggests an upside of more than 61% from current trading levels.
Additionally, the Federal Reserve’s move to conclude its Quantitative Tightening program and inject liquidity into the financial system is broadly expected to act as a tailwind for Ethereum prices, which could further enhance BitMine’s valuation.
Taking these factors into account, BitMine clearly emerges as the stronger performer and the preferred choice in this technology services comparison. BitMine currently carries a Zacks Rank #3 (Hold) and is better positioned than Duolingo, which has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.