Bitmine Immersion Technologies
BMNR · NYSEFinance Services · Fiscal year ends Aug 31
Bitmine Immersion Technologies reported revenue of $6M in the fiscal year ended Aug 2025, up 84.1% from the year before. Operating income was $444M, an operating margin of 7288.1%, and net income was $349M. Operating cash flow of −$4M less capital expenditure of $1M left free cash flow of −$5M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Aug 2021 | Aug 2022 | Aug 2023 | Aug 2024 | Aug 2025 |
|---|---|---|---|---|---|
| Revenue | $0 | $427,669 | $645,278 | $3M | $6M |
| Cost of revenue | $0 | $556,699 | – | $3M | $6M |
| Gross profit | $0 | −$129,030 | $222,469 | $761,027 | $310,000 |
| Operating income | −$131,815 | −$2M | −$2M | −$2M | $444M |
| Interest expense | – | – | – | $269,000 | $245,000 |
| Pre-tax income | – | – | – | −$3M | $441M |
| Income tax | – | – | – | – | $92M |
| Net income | −$154,239 | −$2M | −$2M | −$3M | $349M |
| Diluted EPS | −0.02 | −0.05 | −0.05 | −1.32 | 13.39 |
| Diluted shares | 10M | 43M | 49M | 2M | 25M |
Balance sheet
| Fiscal year | Aug 2021 | Aug 2022 | Aug 2023 | Aug 2024 | Aug 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $218,737 | $392,550 | $270,547 | $499,000 | $512M |
| Receivables | $0 | $491,395 | – | $374,000 | – |
| Current assets | $218,737 | $888,945 | $879,460 | $2M | $513M |
| Net PP&E | $427,296 | $7M | $5M | $5M | $516,000 |
| Goodwill | – | – | – | – | $0 |
| Total assets | $646,033 | $8M | $8M | $7M | $8.8B |
| Payables | $3,680 | $84,761 | $74,904 | $400,584 | – |
| Deferred revenue | – | $232,913 | $0 | $790,000 | $1M |
| Current liabilities | $285,481 | $317,674 | $2M | $3M | $10M |
| Total liabilities | $285,481 | $569,995 | $2M | $3M | $102M |
| Shareholders' equity | $360,551 | $7M | $6M | $4M | $8.7B |
Cash flow
| Fiscal year | Aug 2021 | Aug 2022 | Aug 2023 | Aug 2024 | Aug 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −$76,361 | −$2M | −$809,715 | −$30,000 | −$4M |
| Capital expenditure | $427,296 | $3M | $612,288 | $76,000 | $1M |
| Free cash flow | −$503,657 | −$4M | −$1M | −$106,000 | −$5M |
| Depreciation & amortisation | $0 | $0 | $470,705 | $924,000 | $761,000 |
| Stock-based compensation | $71,250 | $856,724 | $1M | $1M | $2M |
Key ratios
| Fiscal year | Aug 2021 | Aug 2022 | Aug 2023 | Aug 2024 | Aug 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | – | 50.9% | 413.0% | 84.1% |
| Gross margin | – | −30.2% | 34.5% | 23.0% | 5.1% |
| Operating margin | – | −400.8% | −374.0% | −74.0% | 7288.1% |
| Net margin | – | −468.9% | −382.0% | −99.5% | 5719.1% |
| Return on equityBlank when equity is negative | −42.8% | −27.1% | −39.4% | −80.6% | 4.0% |
| ROCEEBIT ÷ (assets − current liabilities) | −36.6% | −22.4% | −36.3% | −59.0% | 5.1% |
| Free cash flow margin | – | −1028.0% | −220.4% | −3.2% | −85.5% |
| Cash conversion (CFO ÷ net income) | 0.50x | 0.81x | 0.33x | 0.01x | −0.01x |
| Receivable days | – | 419 | – | 41 | – |
| Payable days | – | 56 | 65 | 42 | – |
| Interest cover | – | – | – | −9.10x | 1813x |
| Current ratio | 0.77x | 2.80x | 0.56x | 0.49x | 51.5x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.