BMNR Stock Analysis: BitMine Immersion | NYSE
Capital Markets | NYSE, USA | Market Cap: 11.298m USD | 12M Return: -52.2% | US09175A2069 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 571M
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
BitMine Immersion Technologies (BMNR) is a U.S.-based blockchain technology company headquartered in Las Vegas, Nevada, incorporated in 2019 under its former name Sandy Springs Holdings Inc. The company has shifted away from active cryptocurrency mining and now focuses primarily on digital asset treasury management, including holdings of Ethereum (ETH) and Bitcoin (BTC), along with adjacent services such as consulting, advisory work, equipment leasing, and the facilitation of third-party power and hosting arrangements. It also sells mining hardware to customers and related parties, while winding down its proprietary self-mining operations and deferring new site buildouts.
The company is classified under the GICS Financials sector, with its sub-industry listed as Investment Banking & Brokerage, reflecting its treasury-oriented business model rather than traditional mining operations. This corporate digital asset treasury approach, in which publicly listed firms allocate capital to cryptocurrencies as a reserve asset, is a relatively recent strategy pioneered by firms such as MicroStrategy and has drawn increasing interest from smaller publicly traded companies seeking crypto-linked exposure.
- ETH treasury valuation swings drive stock volatility
- Bitcoin price movements impact BTC holdings and ecosystem services
- Mining equipment sales and hosting arrangement revenue growth
| Net Income: -8.75b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.03 > 0.02 and ΔFCF/TA -21.48 > 1.0 |
| NWC/Revenue: 707.8% < 20% (prev -57.97%; Δ 765.8% < -1%) |
| CFO/TA -0.03 > 3% & CFO -293.1m > Net Income -8.75b |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 36.68 > 1.5 & < 3 |
| Outstanding Shares: last quarter (551.8m) vs 12m ago 175.0% < -2% |
| Gross Margin: 83.48% > 18% (prev 18.84%; Δ 64.64% > 0.5%) |
| Asset Turnover: 1.05% > 50% (prev 65.96%; Δ -64.91% > 0%) |
| Interest Coverage Ratio: -35.6k > 6 (EBIT TTM -8.73b / Interest Expense TTM 245k) |
| A: 0.04 (Total Current Assets 445.3m - Total Current Liabilities 12.1m) / Total Assets 11.6b |
| B: -0.75 (Retained Earnings -8.77b / Total Assets 11.6b) |
| C: -1.50 (EBIT TTM -8.73b / Avg Total Assets 5.82b) |
| D: 385.0 (Book Value of Equity 11.6b / Total Liabilities 30.1m) |
| Altman-Z'' = 392.0 = AAA |
As of August 22, 2026, the stock is trading at USD 22.83 with a total of 57,699,543 shares traded. Over the past week, the price has changed by +26.27%, over one month by +32.50%, over three months by +16.42% and over the past year by -52.15%.
Current recommended Stop Loss: 20.50 (which is 10.2% or 2 ATR below the current price).
BitMine Immersion has no consensus analysts rating.
P/S = 184.63
P/B = 0.9402
Revenue TTM = 61.2m USD
EBIT TTM = -8.73b USD
EBITDA TTM = -8.73b USD
Long Term Debt = unknown (none)
Short Term Debt = 81.0k USD (from shortTermDebt, two quarters ago)
Debt = 1.22m USD (from shortLongTermDebtTotal, last quarter) (leases 1.22m already included)
Net Debt = -339.1m USD (calculated: Debt 1.22m - CCE 340.3m)
Enterprise Value = 11.0b USD (11.3b + Debt 1.22m - CCE 340.3m)
Interest Coverage Ratio = -35.6k (Ebit TTM -8.73b / Interest Expense TTM 245k)
EV/FCF = -37.21x (Enterprise Value 11.0b / FCF TTM -294.6m)
FCF Yield = -2.69% (FCF TTM -294.6m / Enterprise Value 11.0b)
FCF Margin = -481.4% (FCF TTM -294.6m / Revenue TTM 61.2m)
Net Margin = -14.3k% (Net Income TTM -8.75b / Revenue TTM 61.2m)
Gross Margin = 83.48% ((Revenue TTM 61.2m - Cost of Revenue TTM 10.1m) / Revenue TTM)
Gross Margin QoQ = 87.70% (prev 87.08%)
Tobins Q-Ratio = 0.94 (Enterprise Value 11.0b / Total Assets 11.6b)
Interest Expense / Debt = 20.15% (Interest Expense 245k / Debt 1.22m)
Taxrate = 20.93% (92.3m / 440.9m)
NOPAT = -6.90b (EBIT -8.73b * (1 - 20.93%)) [loss with tax shield]
Current Ratio = 36.68 (Total Current Assets 445.3m / Total Current Liabilities 12.1m)
Debt / Equity = 0.00 (Debt 1.22m / totalStockholderEquity, last quarter 11.6b)
Debt / EBITDA = 0.04 (negative EBITDA) (Net Debt -339.1m / EBITDA -8.73b)
Debt / FCF = 1.15 (negative FCF - burning cash) (Net Debt -339.1m / FCF TTM -294.6m)
Total Stockholder Equity = 10.4b (last 4 quarters mean from totalStockholderEquity)
RoA = -150.4% (out of range, set to none)
RoE = -84.58% (Net Income TTM -8.75b / Total Stockholder Equity 10.4b)
RoCE = -75.11% (EBIT -8.73b / Capital Employed (Total Assets 11.6b - Current Liab 12.1m))
RoIC = -59.40% (negative operating profit) (NOPAT -6.90b / Invested Capital 11.6b)
WACC = 19.67% (E(11.3b)/V(11.3b) * Re(19.67%) + D(1.22m)/V(11.3b) * Rd(20.15%) * (1-Tc(0.21)))
Discount Rate = 19.67% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 69.45 | Cagr: 42.40%
[DCF] Fair Price = unknown (Cash Flow -294.6m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 94.53 | Revenue CAGR: 286.9% | SUE: N/A | # QB: 0
EPS current Quarter (2026-11-30): EPS=0.10 | Chg30d=-52.38% | Revisions=-25% | Analysts=1
EPS current Year (2026-08-31): EPS=-21.88 | Chg30d=-38.31% | Revisions=-25% | GrowthEPS=-263.4% | GrowthRev=+1954.1%
EPS next Year (2027-08-31): EPS=0.35 | Chg30d=-48.91% | Revisions=-40% | GrowthEPS=+101.6% | GrowthRev=+243.3%
[Analyst] Revisions Ratio: -57% (up=0, down=4)