(BMNR) Bitmine Immersion - Overview
Sector: Financial Services | Industry: Capital Markets | Exchange: AMEX (USA) | Market Cap: 10.668m USD | Total Return: 162.3% in 12m
Avg Turnover: 674M
Warnings
Share dilution 129.2% YoY
Tailwinds
No distinct edge detected
Bitmine Immersion Technologies, Inc. (BMNR) is a Nevada-based blockchain technology firm specializing in digital asset treasury management and ecosystem services. The company has shifted its strategy to prioritize consulting, advisory engagements, and equipment leasing while actively reducing its proprietary self-mining operations and pausing new infrastructure buildouts.
The business model focuses on capital-light revenue streams, such as facilitating third-party hosting arrangements and selling mining hardware to external partners. This pivot reflects a broader trend in the cryptocurrency sector where firms seek to mitigate the high operational risks and energy costs associated with direct Bitcoin mining by transitioning toward service-oriented and asset-management roles.
For more detailed insights into the companys financials, you can explore the data available on ValueRay. Bitmine Immersion Technologies also maintains Ethereum treasury operations and continues to provide optimization services for existing power infrastructure within the blockchain space.
- Shift from proprietary mining to hosting and equipment leasing stabilizes cash flow
- Expansion of consulting and advisory services diversifies non-mining revenue streams
- Bitcoin price volatility directly impacts digital asset treasury valuation and margins
- Strategic wind-down of self-mining operations reduces capital expenditure and energy risk
- Management of third-party power arrangements influences operational efficiency and overhead costs
| Net Income: -8.67b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.03 > 0.02 and ΔFCF/TA -0.97 > 1.0 |
| NWC/Revenue: 4.48k% < 20% (prev -74.56%; Δ 4.56k% < -1%) |
| CFO/TA -0.03 > 3% & CFO -320.4m > Net Income -8.67b |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 6.46 > 1.5 & < 3 |
| Outstanding Shares: last quarter (454.6m) vs 12m ago 129.2% < -2% |
| Gross Margin: 64.44% > 18% (prev 0.16%; Δ 6.43k% > 0.5%) |
| Asset Turnover: 0.34% > 50% (prev 61.67%; Δ -61.33% > 0%) |
| Interest Coverage Ratio: -704.6 > 6 (EBITDA TTM -3.62b / Interest Expense TTM 5.13m) |
| A: 0.08 (Total Current Assets 885.9m - Total Current Liabilities 137.1m) / Total Assets 9.89b |
| B: -0.88 (Retained Earnings -8.69b / Total Assets 9.89b) |
| C: -0.73 (EBIT TTM -3.62b / Avg Total Assets 4.95b) |
| D: -240.2 (Book Value of Equity -8.69b / Total Liabilities 36.2m) |
| Altman-Z'' = -259.5 = D |
| DSRI: 0.83 (Receivables 751k/250k, Revenue 16.7m/4.63m) |
| GMI: 0.25 (GM 64.44% / 16.39%) |
| AQI: 7.71 (AQ_t 0.91 / AQ_t-1 0.12) |
| SGI: 3.61 (Revenue 16.7m / 4.63m) |
| TATA: -0.84 (NI -8.67b - CFO -320.4m) / TA 9.89b) |
| Beneish M = 1.14 (Cap -4..+1) = D |
As of May 24, 2026, the stock is trading at USD 18.88 with a total of 20,563,629 shares traded.
Over the past week, the price has changed by -4.98%,
over one month by -19.00%,
over three months by -1.77% and
over the past year by +162.30%.
Bitmine Immersion has no consensus analysts rating.
P/B = 1.2809
Revenue TTM = 16.7m USD
EBIT TTM = -3.62b USD
EBITDA TTM = -3.62b USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 1.24m USD (from shortLongTermDebtTotal, last quarter) (leases 1.24m already included)
Net Debt = -878.3m USD (calculated: Debt 1.24m - CCE 879.6m)
Enterprise Value = 9.79b USD (10.7b + Debt 1.24m - CCE 879.6m)
Interest Coverage Ratio = -704.6 (Ebit TTM -3.62b / Interest Expense TTM 5.13m)
EV/FCF = -30.42x (Enterprise Value 9.79b / FCF TTM -321.9m)
FCF Yield = -3.29% (FCF TTM -321.9m / Enterprise Value 9.79b)
FCF Margin = -1.93k% (FCF TTM -321.9m / Revenue TTM 16.7m)
Net Margin = -51.9k% (Net Income TTM -8.67b / Revenue TTM 16.7m)
Gross Margin = 64.44% ((Revenue TTM 16.7m - Cost of Revenue TTM 5.94m) / Revenue TTM)
Gross Margin QoQ = 87.08% (prev 55.34%)
Tobins Q-Ratio = 0.99 (Enterprise Value 9.79b / Total Assets 9.89b)
Interest Expense / Debt = 412.6% (Interest Expense 5.13m / Debt 1.24m)
Taxrate = 20.93% (92.3m / 440.9m)
NOPAT = -2.86b (EBIT -3.62b * (1 - 20.93%)) [loss with tax shield]
Current Ratio = 6.46 (Total Current Assets 885.9m / Total Current Liabilities 137.1m)
Debt / Equity = 0.00 (Debt 1.24m / totalStockholderEquity, last quarter 9.86b)
Debt / EBITDA = 0.24 (negative EBITDA) (Net Debt -878.3m / EBITDA -3.62b)
Debt / FCF = 2.73 (negative FCF - burning cash) (Net Debt -878.3m / FCF TTM -321.9m)
Total Stockholder Equity = 7.45b (last 4 quarters mean from totalStockholderEquity)
RoA = -175.2% (out of range, set to none)
RoE = -53.73% (Net Income TTM -8.67b / Total Stockholder Equity 16.1b)
RoCE = -37.07% (EBIT -3.62b / Capital Employed (Total Assets 9.89b - Current Liab 137.1m))
RoIC = -29.08% (negative operating profit) (NOPAT -2.86b / Invested Capital 9.83b)
WACC = 16.59% (E(10.7b)/V(10.7b) * Re(16.59%) + (debt cost/tax rate unavailable))
Discount Rate = 16.59% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 20.0 | Cagr: 30.74%
[DCF] Fair Price = unknown (Cash Flow -321.9m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 96.12 | Revenue CAGR: 217.7% | SUE: N/A | # QB: 0
EPS current Quarter (2026-05-31): EPS=0.18 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS current Year (2026-08-31): EPS=0.69 | Chg30d=N/A | Revisions=N/A | GrowthEPS=+105.5% | GrowthRev=+2443.1%
EPS next Year (2027-08-31): EPS=0.94 | Chg30d=N/A | Revisions=N/A | GrowthEPS=+36.2% | GrowthRev=+190.7%