Bgin Blockchain Limited Class A (BGIN) AI Stock Analysis
BGIN AI stock analysis summary
AI ResearchBgin Blockchain Limited Class A (BGIN) is a Singapore-based digital asset technology company that manufactures mining hardware, develops chips, and produces cryptocurrency. For the trailing twelve months ended June 30, 2026, the company generated $27.1M in revenue with an operating margin of -299.9% and an EPS of -$1.34. The company closed the period with $31.4M in cash and short-term investments against $2.0M in total debt, leaving a net cash balance of $29.4M.
- Market cap
- $216.1M
- Revenue (TTM)
- $27.1M
- P/E
- —
- 1Y return
- — S&P 500 16.8%
- Avg. target
- —
Bull case
- Bgin Blockchain maintains a debt-to-equity ratio of 0.07 with $31.4M in cash and short-term investments against $2.0M in total debt as of June 30, 2026.
- The business proved it can scale rapidly in favorable market conditions, having delivered $302.3M in revenue and $65.9M in net income in FY2024.
- Insiders hold 52.1% of company equity, creating significant alignment between management and equity performance.
Bear case
- Top-line contraction has been severe, evidenced by an 84.5% year-over-year quarterly revenue decline for the period ended June 30, 2026.
- The company generated negative free cash flow of -$171.1M in FY2025 alongside an annual net loss of -$176.9M.
- Trailing twelve-month operating margin deteriorated to -299.9%, indicating severe cost pressures relative to its $27.1M in trailing revenue.
What Bgin Blockchain does
Founded in 2019 and based in Singapore, Bgin Blockchain Limited operates as a digital asset technology company in Singapore, Hong Kong, the United States, and internationally. The company produces cryptocurrencies through its proprietary mining operations and operates mining pools. In addition, it designs and sells mining rigs for individual miners and commercial distributors while developing computer chips. It provides ASIC chip customization solutions for third parties with dedicated computing power or hardware specifications. Bgin Blockchain also offers miner hosting, mining machine after-sale support, and related value-added services. The company employed 88 people as of its 2025 initial public offering.
Growth and profitability
Bgin Blockchain generated a 4-year revenue compound annual growth rate of 33.0% from FY2021 through FY2025. After revenue fell 30.1% to $15.1M in FY2022, revenue surged 1609.0% to $257.3M in FY2023 and reached $302.3M in FY2024. In FY2025, revenue declined 77.7% to $67.4M, with gross margin sinking to -112.2% and operating margin reaching -163.3%. Net income shifted from $139.7M in FY2023 and $65.9M in FY2024 to a net loss of -$176.9M in FY2025. For the latest quarter ended June 30, 2026, quarterly revenue fell 84.5% year-over-year, leaving trailing twelve-month revenue at $27.1M alongside an operating margin of -299.9%.
Balance sheet and cash flow
As of June 30, 2026, Bgin Blockchain held $31.4M in cash and short-term investments alongside $2.0M in total debt, resulting in net cash of $29.4M. Shareholders' equity was $29.1M out of $68.0M in total assets, yielding a debt-to-equity ratio of 0.07 and a current ratio of 1.24. During FY2025, operating cash flow stood at -$166.9M and free cash flow was -$171.1M. Capital allocation in FY2025 included $4.2M in capital expenditures, $20.2M in research and development expenses, and $4.1M in dividends paid.
Valuation and performance
At a share price of $1.91 on October 16, 2026, Bgin Blockchain has a market capitalization of $216.1M and an enterprise value of $187.2M. The stock trades at a price-to-sales multiple of 8.0x, above the 2.8x median of its US-listed Technology peers. Its EV-to-EBITDA multiple of 17.2x compares to the median of its US-listed Technology peers of 16.6x, while its EV-to-revenue multiple sits at 2.8x and price-to-book stands at 3.9x. Year-to-date, BGIN shares have declined 23.9% and trade 26.3% below their 200-day average, while the S&P 500 (SPY) gained 16.8% over the past year.
What analysts expect
No consensus analyst ratings, price targets, earnings estimates, or earnings surprise track records are available for Bgin Blockchain Limited Class A. The company also does not have a scheduled next earnings announcement date. Institutional investors hold 0.1% of shares, while insiders own 52.1%. The stock trades with short interest representing 4.5% of its float. Following its latest reported quarter ended June 30, 2026, market participants must rely on periodic financial disclosures to assess business developments.
Key risks and what to watch
- Cash burn poses a challenge if free cash flow remains negative after reaching -$171.1M in FY2025 relative to $31.4M in cash reserves as of June 30, 2026.
- Equity price volatility is high, with the shares trading at $1.91 after previously reaching a 52-week high of $6.50.
- Institutional ownership is very low at 0.1%, which may limit market liquidity and broaden trading spreads.
- R&D spending increased to $20.2M in FY2025 despite full-year revenue falling 77.7% to $67.4M.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this BGIN AI stock analysis
This page is an AI-written research summary of Bgin Blockchain Limited Class A (BGIN). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: BGIN income statement, BGIN balance sheet, BGIN key metrics, BGIN chart. See the BGIN stock overview for the latest quote and news.
BGIN AI stock analysis FAQ
What does Bgin Blockchain Limited do?
Bgin Blockchain Limited produces cryptocurrencies through mining operations and mining pools, designs and sells mining equipment, develops computer chips, and offers ASIC customization and miner hosting solutions.
How much debt does BGIN have?
As of June 30, 2026, Bgin Blockchain had $2.0M in total debt and $31.4M in cash and short-term investments, providing a net cash balance of $29.4M.
What is BGIN's valuation relative to its industry peers?
BGIN trades at a price-to-sales multiple of 8.0x and an EV-to-EBITDA of 17.2x, compared to the median of its US-listed Technology peers of 2.8x and 16.6x, respectively.
How has Bgin Blockchain's revenue changed recently?
After reaching $302.3M in FY2024, revenue dropped 77.7% to $67.4M in FY2025, and quarterly revenue fell 84.5% year-over-year in the quarter ended June 30, 2026.
Who owns the majority of BGIN stock?
Insiders own 52.1% of the company, institutional investors own 0.1%, and short interest accounts for 4.5% of the float.