BitMine Immersion Technologies, Inc.

Finance Services

BMNRStrong6 of 10 basics passed

$24.08

+0.17%

Market cap $14.5B

$24.08

+0.17%

Market cap $14.5B

BitMine Immersion Technologies Inc is a Bitcoin and Ethereum Network Company with a focus on the accumulation of Crypto for long term investment, whether acquired by its Bitcoin mining operations or from the proceeds of capital raising transactions.

It is a $14.5B financial services company. Revenue grew 1022.3% over the last year, and it currently loses money.

Website: bitminetech.io
Location: Norwalk, CT
Employees: 3
Sector: Financial Services

Share price · 3 years

$14.00 → $24.08+72.0%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $61.2M
Loss: spends more than it earns; -$8.75B
Free cash flow: cash left after running the business; -$295M
P/E: years of profit in the price; 41.6
Shares: up 21% since 2021 — dilution; 24.5M
Volatility: beta vs the market — under 1 swings less; 2.10

Revenue, last 4 years

52-week range

Low $13.31$24.08High $56.85

Today's price is 25% of the way from the year's low to its high.

Valuation vs own history

P/S

236.9×

30%

P/B

1.2×

72%

FCF yield

0.2%

64%

Share of the last ~5 years that was pricier than today (in line with its own history). Based on the daily valuation record.

Standing in Financial Services

Size$14.5Btop 66%
Revenue growth+142%top 1%
Net margin-14307%top 100%
Return on equity-85%top 99%
P/E41.6×top 93%

Ranked against 129 Financial Services companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Valuation, Growth, Profitability, Quality and Moat lag behind.

Valuation15

P/E vs own historyn/a · 10/25
FCF yield-2.0% · 0/25
P/S236.9x · 0/25
EV/EBITDA31.8x · 5/25

Growth0

Revenue CAGRn/a · 0/25
Net income CAGRn/a · 0/25
EPS CAGR ~5Yn/a · 0/25
Fwd implied growthn/a · 0/25

Profitability5

ROIC4.3% · 5/25
ROE-84.6% · 0/25
Net margin-14306.6% · 0/25
Operating margin-14505.1% · 0/25

Health50

Altman Z276.89 · 25/25
Current ratio36.68 · 25/25
Interest coverage-7.0x · 0/25
Net cash / debtn/a · 0/25

Quality10

Piotroski F4/9 · 10/25
Beneish M8.00 · 0/25
FCF conversionn/a · 0/25
Margin stabilityσ 2193.9% · 0/25

Moat0

ROIC >12% years0/5 yrs · 0/25
Median gross margin14.0% · 0/25
FCF-positive years0/5 yrs · 0/25
Worst-year net marginworst -468.9% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2025Financial
Turned profitable
$349M net income after a loss year
FY2025Financial
Best year on record
$349M net income

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2022 would be worth ~$5 351 today — price return only

$6.1M revenue in FY2025

Revenue up 1022.3% year over year

3 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (83.5%)
Revenue growing 1022.3% year over year
Altman Z-Score 276.89 — low bankruptcy-risk zone

Watch-outs

Not profitable — 14306.6% net margin
Negative free cash flow (-$294.6M)
Thin interest coverage (-7.0×)
Loss-making in 4 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

6 of 10 checks passed

Revenue growing — the company sells more than a year ago+1022.3% YoY
Profitable — makes more than it spends-$8.75B TTM
Profit growing — earnings are higher than last year+10687.0% YoY
Generates cash — cash left after running and investing-$295M TTM
Debt under control — could handle its obligationscurrent ratio 36.68
Established company — not a micro-cap — lower blow-up risk$14.5B market cap
Not printing shares — share count not ballooning — you keep your slice+21.3% shares over ~5y
Proven track record — years of profitability behind it1/5 profitable years
Financially stable — balance sheet not near distressAltman Z 276.9 — safe
Pays a dividend — returns cash to shareholdersno data
Valuation not extreme — price not wildly above earningsP/E 41.6

Peer comparisonBitMine Immersion Technologies, Inc. vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
BMNR this company	$14.5B	41.6	+1022.3%	-14306.6%	Strong
BRK.A Berkshire Hathaway Inc.	$1.1T	11.6	+3.9%	22.3%	Mixed
BRK.B Berkshire Hathaway	$1.1T	11.6	+0.0%	18.0%	Strong
JPM JPMorgan Chase & Co.	$886.2B	13.6	+13.5%	32.6%	Strained
V VISA Inc.	$723.9B	31.9	+14.4%	50.8%	Solid
MA Mastercard Incorporated	$516.4B	31.7	+16.0%	46.3%	Mixed
BAC Bank of America Corporation	$380.4B	11.3	+15.9%	27.8%	Mixed

Head-to-head: BMNR vs BRK.A · BMNR vs BRK.B · BMNR vs JPM

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 2Buy 5Hold 1

Appendix · Financial records

The full statements behind this CV, FY2021–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $61.2M · net income -$8.75B (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$61.2M

YoY 1022.3%

Net income (TTM)

-$8.75B

Margin -14306.6%

Gross margin

83.5%

Operating margin

-14505.1%

P/E ratio

41.6

Income statement — full detail

Figures in USD billions · EPS in USD

	2021	2022	2023	2024	2025
Revenue	—	0.0	0.0	0.0	0.0
Gross profit	—	-0.0	0.0	0.0	0.0
Operating income (EBIT)	-0.0	-0.0	-0.0	-0.0	-0.0
Net income	-0.0	-0.0	-0.0	-0.0	0.3
EPS (diluted)	-0.01	-0.08	-0.10	-0.13	14.22

Cash flowFree cash flow -$295M · operating cash flow -$293M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

-$295M

Margin -481.4%

Operating cash flow (TTM)

-$293M

FCF margin

-200.0%

Cash flow statement — full detail

Figures in USD billions

	2021	2022	2023	2024	2025
Operating cash flow	-0.0	-0.0	-0.0	-0.0	-0.0
Capital expenditure	-0.0	-0.0	-0.0	-0.0	-0.0
Free cash flow	-0.0	-0.0	-0.0	-0.0	-0.0
FCF margin	—	-1809.0%	-220.4%	-3.2%	-85.5%

Balance sheetAssets $8.80B · debt n/a (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $8.80B of assets is financed

99%

Liabilities $102M — borrowed moneyEquity $8.69B — owners' stake

Altman Z-Score

276.89

Safe zone

Debt repayment

0.0 yrs

Years of free cash flow to clear net debt

Interest coverage

-7.0x

EBIT ÷ interest expense

ROE

-84.6%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2022	2025
Cash & equivalents	0.0	0.5
Total assets	0.0	8.8
Total liabilities	0.0	0.1
Total debt	—	—
Equity	0.0	8.7
Net debt	—	—

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of BMNR on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $24.08 · market cap $14.5B.