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BitMine Immersion Technologies, Inc. (BMNR) Financials

BMNR
FY2025 annual
Revenue $6K -99.8% YoY
Net Income $349K +110.6% YoY
EPS (Diluted) $0.01 YoY not available
Free Cash Flow -$5K +95.1% YoY
Market Cap $14.2B as of Oct 14, 2026
Price / Sales n/m outside the range published as a multiple, on $6K revenue, FY2025
Price / Earnings n/m outside the range published as a multiple, on $349K net income, FY2025
Price / Book 1.2x on $11.6B equity, Q3 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2026, ended May 31, 2026 Reported Currency USD FYE August

Newest figures come from the 10-K for Q3 FY2026, filed Jul 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BMNR SEC filings page.

BitMine Immersion Technologies, Inc. (BMNR) reported $6K in revenue for fiscal year 2025, down 99.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI BMNR FY2025

FY2025 profit came from a radically smaller operating footprint, while financing and investing activity reshaped the balance sheet.

Revenue fell from $3.3M in FY2024 to $6K in FY2025, a scale collapse rather than growth-led improvement. Meanwhile, operating income moved from a $2.4M loss to a $444K profit, indicating the swing followed a radically different cost structure rather than stronger sales.

Gross margin compression from 23.0% in FY2024 to 5.1% in FY2025 means reported profitability did not come from a stronger core spread. Because operating income exceeded gross profit in FY2025, the positive result appears tied to below-gross-profit items or presentation rather than gross economics.

Liabilities fell from $3.2M to $102K, leaving a much less liability-heavy balance sheet. Net income was $349K while operating cash flow was -$4K, so earnings did not convert into operating cash; the balance-sheet shift therefore depended on financing and investing flows rather than operations.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

BitMine Immersion Technologies, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial
3/7

BitMine Immersion Technologies, Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality No Cash Backing

For every $1 of reported earnings, BitMine Immersion Technologies, Inc. used $0.01 of operating cash (-$4K OCF vs $349K net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.

Interest Coverage Safe
1,813.11x

BitMine Immersion Technologies, Inc. earns $1,813.11 in operating income for every $1 of interest expense ($444K vs $245). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$46.5M
YoY+2267845.6%
QoQ+321.5%

BitMine Immersion Technologies, Inc. generated $46.5M in revenue in Q3 2026. This represents an increase of 2267845.6% from the same quarter a year earlier. Against the prior quarter it is up 321.5%.

EBITDA
-$11.2M
YoY-3885859.0%
QoQ+99.7%

BitMine Immersion Technologies, Inc.'s EBITDA was -$11.2M in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 3885859.0% from the same quarter a year earlier. Against the prior quarter it is up 99.7%.

Net Income
-$83.6M
YoY-13423166.0%
QoQ+97.8%

BitMine Immersion Technologies, Inc. reported -$83.6M in net income in Q3 2026. This represents a decrease of 13423166.0% from the same quarter a year earlier. Against the prior quarter it is up 97.8%.

EPS (Diluted)
-$0.15
QoQ+98.2%

BitMine Immersion Technologies, Inc. earned -$0.15 per diluted share (EPS) in Q3 2026. Against the prior quarter it is up 98.2%.

Cash & Balance Sheet

Free Cash Flow
$29.0M
YoY+1727807.0%
QoQ+132.8%

BitMine Immersion Technologies, Inc. generated $29.0M in free cash flow in Q3 2026, representing cash available after capex. This represents an increase of 1727807.0% from the same quarter a year earlier. Against the prior quarter it is up 132.8%.

Cash & Debt
$340.3M
YoY+23093810.4%
QoQ-61.3%
5Y CAGR+896.3%

BitMine Immersion Technologies, Inc. held $340.3M in cash as of Q3 2026; long-term debt is not reported for that period.

Shares Outstanding
603M
QoQ+12.2%
5Y CAGR+192.8%

BitMine Immersion Technologies, Inc. had 603M shares outstanding in Q3 2026. Against the prior quarter it is up 12.2%.

Dividends Per Share

Not reported for Q3 2026.

Margins & Returns

Gross Margin
87.7%
YoY+63.8pp
QoQ+0.6pp

BitMine Immersion Technologies, Inc.'s gross margin was 87.7% in Q3 2026, indicating the percentage of revenue retained after direct costs. This is up 63.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.

Operating Margin
-25.5%
YoY-2.7pp

BitMine Immersion Technologies, Inc.'s operating margin was -25.5% in Q3 2026, reflecting core business profitability. This is down 2.7 percentage points from the same quarter a year earlier.

Return on Equity
-0.7%
YoY+20.9pp
QoQ+38.0pp

BitMine Immersion Technologies, Inc.'s ROE was -0.7% in Q3 2026, measuring profit generated per dollar of shareholder equity. This is up 20.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 38.0 percentage points.

Net Margin

Not shown for Q3 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Capital Allocation

Capital Expenditures
$30K

BitMine Immersion Technologies, Inc. invested $30K in capex in Q3 2026, funding long-term assets and infrastructure.

R&D Spending

Not reported for Q3 2026.

Share Buybacks

Not reported for Q3 2026.

BMNR Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BMNR quarterly income statement
MetricQ3'2610-KQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-K
Revenue$46.5M+2267845.6%$11.0M+727515.7%$2.3M+190851.3%N/A$2K-99.8%$2K-99.8%$1K-99.8%$682K+178.2%
Cost of Revenue$5.7M+328602.6%$1.4M+98927.8%$1.0M+84458.2%N/A$2K$1K$1KN/A
Gross Profit$40.8M+8313472.6%$9.6M+3155297.2%$1.3M+12477976.1%N/A$491-99.8%$305-99.9%-$10-100.0%$112K+2.5%
SG&A Expenses$37.3M+5009308.6%$75.0M+7778738.2%$223.4M+23298753.0%N/A$744-98.4%$964-98.6%$959-98.6%$2.1M+1148.0%
Operating Income-$11.9M-2535156.4%-$3.8B-420655102.6%-$5.5B-618811212.2%N/A-$468+99.9%-$913+99.9%-$884+99.9%-$653K+41.9%
EBITDA-$11.2M-3885859.0%-$3.8B-560650702.9%-$5.5B-726449833.6%N/A-$287+99.9%-$685+99.8%-$753+99.8%-$413K+56.3%
Interest ExpenseN/A-$4.8M-8028433.3%$200K+294017.6%N/A$72-99.9%$60$68N/A
Income Tax$0N/A-$92.3MN/A$0N/AN/AN/A
Net Income-$83.6M-13423166.0%-$3.8B-330312443.3%-$5.2B-534301234.7%N/A-$623+99.9%-$1K+99.9%-$974+99.9%-$814K+30.0%
EPS (Basic)-$0.15+51.6%-$8.40-1348.3%-$15.98-862.7%$16.22+1663.0%-$0.31-19.2%-$0.58-2800.0%-$1.66-8200.0%$0.92+4700.0%
EPS (Diluted)-$0.15-$8.40-$15.98$16.01-$0.31-$0.58-$1.66$0.92+4700.0%
Diluted Shares (Avg)552M455M326MN/A2M2M2MN/A

Not reported in any period shown, so not listed: R&D Expenses.

BMNR Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BMNR quarterly balance sheet
MetricQ3'2610-KQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-K
Total Assets$11.6B+140603.0%$9.9B+131811.5%$11.5B+144668.5%$8.8B+120678.0%$8.3M+1.2%$7.5M-4.4%$7.9M-7.5%$7.3M-11.2%
Current Assets$445.3M+20454178.2%$885.9M+77129645.0%$889.0M+65605641.8%$513.0M+33082.9%$2K-99.9%$1K-99.9%$1K-99.9%$1.5M+75.8%
Cash & Equivalents$340.3M+23093810.4%$879.6M+182125415.8%$887.7M+111334010.9%$512.0M+102505.0%$1K-99.5%$483-99.9%$797-99.8%$499K+84.4%
Short-Term Investments$0$0$0$0$0$0$0$0
Long-Term Investments$0$0$0$0$0$0$0$0
Goodwill$15.0MN/AN/A$0N/AN/AN/AN/A
Total Liabilities$30.1M+459.2%$36.2M+678.2%$235.7M+5614.2%$102.3M+3099.5%$5.4M+51.6%$4.6M+62.0%$4.1M+38.8%$3.2M+64.3%
Current Liabilities$12.1M+227306.4%$16.3M+355525.8%$137.1M+3364788.0%$10.0M+218.1%$5K-99.8%$5K-99.8%$4K-99.8%$3.1M+100.9%
Non-Current Liabilities$18.0M+35680.3%$19.8M+39318.0%$98.6M+196035.6%$92.3M+141892.3%$50K-84.4%$50K-85.4%$50K-86.2%$65K-83.2%
Total Equity$11.6B+403049043.2%$9.9B+345534004.5%$11.3B+295470803.4%$8.7B+212645.9%$3K-99.9%$3K-99.9%$4K-99.9%$4.1M-34.7%
Retained Earnings-$8.8B-62938465.5%-$8.7B-65254311.4%-$4.9B-40024577.5%$337.4M+4202.5%-$14K+99.8%-$13K+99.8%-$12K+99.8%-$8.2M-66.8%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Long-Term Debt.

BMNR Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BMNR quarterly cash flow statement
MetricQ3'2610-KQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-K
Operating Cash Flow$29.0M+1729595.9%-$88.2M-41043155.8%-$228.4M-237870733.3%-$5.5M-2641.3%$2K+103.9%-$215+99.9%-$96+99.8%$217K+159.2%
Depreciation & Amortization$702K+388314.0%$124K+54286.0%$124K+94556.5%$222K-7.3%$181-99.9%$228-99.9%$131-99.9%$239K+35.7%
Stock-Based CompensationN/AN/A$677K+43.7%N/AN/AN/A$471K+68.5%N/A
Capital Expenditures$30K$0$376K+2088788.9%$1.0M+1586263.6%$0-100.0%$0-100.0%$18-100.0%$66-99.9%
Free Cash Flow$29.0M+1727807.0%-$88.2M-41043155.8%-$228.7M-200642005.3%-$6.6M-3124.6%$2K+102.7%-$215+99.9%-$114+99.9%$217K+144.7%
Investing Cash Flow-$2.4B-$2.3B-$7.4B-41235772122.2%-$7.4B-1412926145.6%$0+100.0%$0-100.0%-$18+100.0%$526-99.6%
Financing Cash Flow$1.8B+261137126.2%$2.4B+2400488100.0%$8.0B+1948173201.0%$7.9B-$686-$100$412-99.9%$0

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

BMNR Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BMNR quarterly financial ratios
MetricQ3'2610-KQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-K
Gross Margin87.7%+63.8pp87.1%+67.0pp55.3%+56.2ppN/A23.9%+5.8pp20.1%-16.2pp-0.8%-21.2pp16.4%-28.0pp
Operating Margin-25.5%-2.7pp-34784.7%-238564.8%N/A-22.8%+20.8pp-60.2%+12.6pp-73.6%-95.7%
Net Margin-179.6%-34583.9%-226955.7%N/A-30.3%+23.1pp-76.2%-81.1%-119.3%
Return on Equity-0.7%+20.9pp-38.7%+1.8pp-46.3%-20.7ppN/A-21.6%-7.5pp-40.5%-22.4pp-25.6%-9.2pp-19.9%-1.3pp
Return on Assets-0.7%-0.7pp-38.6%-38.6pp-45.3%-45.3ppN/A0.0%+8.0pp0.0%+11.5pp0.0%+10.7pp-11.2%+3.0pp
Current Ratio36.68+36.3x54.19+53.9x6.48+6.2x51.50+51.0x0.41-0.3x0.25-0.4x0.33-0.4x0.49-0.1x
Debt-to-Equity0.00-1.9x0.00-1.6x0.02-1.1x0.01-0.8x1.87+1.1x1.63+1.1x1.08+0.6x0.78+0.5x
Asset Turnover0.00-0.2x0.00-0.2x0.00-0.2xN/A0.25+0.1x0.20+0.1x0.15+0.1x0.09+0.1x
FCF Margin62.3%-19.5pp-799.2%-9975.2%N/A81.7%+86.7pp-14.2%+6.2pp-9.5%+15.0pp31.8%

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
BitMine Immersion Technologies, Inc. BMNR FY2025 $6K $349K N/A $14.2B —
IREN Limited IREN FY2026 $707.0M -$702.6M -99.4% $13.7B 34/100
Virtu Financial, Inc. VIRT FY2025 $3.6B $912K 0.0% $4.9B 24/100
MARA Holdings, Inc. MARA FY2025 $907.1M -$1.3B N/A $3.5B 33/100
PJT Partners Inc. PJT FY2025 $1.7B $180.1M 10.5% $3.5B 51/100

Frequently Asked Questions

What is BitMine Immersion Technologies, Inc.'s annual revenue?

BitMine Immersion Technologies, Inc. (BMNR) reported $6K in total revenue for fiscal year 2025. This represents a -99.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is BitMine Immersion Technologies, Inc.'s revenue growing?

BitMine Immersion Technologies, Inc. (BMNR) revenue declined by 99.8% year-over-year, from $3.3M to $6K in fiscal year 2025.

Is BitMine Immersion Technologies, Inc. profitable?

Yes, BitMine Immersion Technologies, Inc. (BMNR) reported a net income of $349K in fiscal year 2025.

BitMine Immersion Technologies, Inc. (BMNR) reported diluted earnings per share of $0.01 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

BitMine Immersion Technologies, Inc. (BMNR) had EBITDA of $445K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

BitMine Immersion Technologies, Inc. (BMNR) had a gross margin of 5.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

BitMine Immersion Technologies, Inc. (BMNR) has a return on equity of 4.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

BitMine Immersion Technologies, Inc. (BMNR) recorded an outflow of $5K in free cash flow during fiscal year 2025. This represents a 95.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

BitMine Immersion Technologies, Inc. (BMNR) recorded an outflow of $4K in operating cash flow during fiscal year 2025, representing cash used by core business activities.

BitMine Immersion Technologies, Inc. (BMNR) had $8.8M in total assets as of fiscal year 2025, including both current and long-term assets.

BitMine Immersion Technologies, Inc. (BMNR) invested $1K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

BitMine Immersion Technologies, Inc. (BMNR) had 384M shares outstanding as of fiscal year 2025.

BitMine Immersion Technologies, Inc. (BMNR) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

BitMine Immersion Technologies, Inc. (BMNR) had a return on assets of 4.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

BitMine Immersion Technologies, Inc. (BMNR) has no price-to-earnings ratio at the moment: outside the range published as a multiple (on $349K net income, FY2025). The market capitalization is $14.2B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

BitMine Immersion Technologies, Inc. (BMNR) has no price-to-sales ratio at the moment: outside the range published as a multiple (on $6K revenue, FY2025). The market capitalization is $14.2B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

BitMine Immersion Technologies, Inc. (BMNR) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

For every $1 of reported earnings, BitMine Immersion Technologies, Inc. (BMNR) used $0.01 of operating cash (-$4K OCF vs $349K net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

BitMine Immersion Technologies, Inc. (BMNR) has an interest coverage ratio of 1,813.11x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

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