BitMine Immersion Technologies, Inc. (BMNR) AI Stock Analysis

BitMine Immersion Technologies, Inc. operates as a blockchain technology company primarily in the United States. The company engages in ETH treasury operations and BTC ecosystem services, which include consulting and advisory engagements as well as equipment leasing. It facilitates and optimizes third-party power and hosting arrangements and maintains disciplined BTC treasury management while winding down proprietary self-mining exposure and deferring new site buildouts. In addition, the firm offers digital asset ecosystem services, provides digital asset treasury management, and sells mining equipment to customers and related parties.

BitMine Immersion Technologies grew annual revenue from $427,669 in FY2022 to $645,278 in FY2023, $3.3M in FY2024, and $6.1M in FY2025, representing an 84.1% revenue increase in FY2025. Gross margin contracted to 5.1% in FY2025 from 23.0% in FY2024. FY2025 operating margin was 7288.1%, with net income of $348.6M and EPS of $1.10. Over the trailing twelve months ended May 31, 2026, revenue stood at $61.2M, operating margin was 8.4%, profit margin was 0.0%, and EPS was -$4.50. For the latest quarter ended May 31, 2026, quarterly revenue growth was 2167.8% year-over-year.

As of May 31, 2026, BitMine Immersion Technologies reported cash and short-term investments of $340.3M and total debt of $1.2M, yielding net cash of $339.1M. Shareholders' equity was $11.60B out of $11.63B in total assets. Its current ratio stood at 36.68, with a debt-to-equity ratio of 0.00. In FY2025, operating cash flow was -$4.1M and free cash flow was -$5.2M. Capital expenditures totaled $1.1M, and dividends paid were $3.0M, while share count increased 171.8% over five years.

At a share price of $21.66, BitMine Immersion Technologies has a market capitalization of $13.07B and an enterprise value of $16.23B. The stock trades at a price-to-sales multiple of 213.5x, compared to 3.2x for the median of its US-listed Financial Services peers. Its EV-to-EBITDA ratio is 32.1x versus the peer median of 11.7x, and price-to-book is 1.4x. Over the past year, the stock fell 57.6%, underperforming the S&P 500 (SPY) return of 16.8%. Over five years, the stock dropped 71.1% against an 83.0% gain for the benchmark.

BitMine Immersion Technologies pays an annual forward dividend of $0.01 per share, reflecting a dividend yield of 0.05%. The dividend is paid on an annual frequency. The stock's last ex-dividend date was December 8, 2025, and total dividends paid in FY2025 were $3.0M.

Wall Street coverage includes 3 Strong Buy ratings, 0 Buy ratings, 0 Hold ratings, and 0 Sell ratings. The mean price target is $45.87, representing an upside of 111.8% versus the last close of $21.66. For the current fiscal year ending August 31, 2026, consensus estimates project revenue of $119.8M and EPS of -$21.89. For the next fiscal year, 2 analysts project revenue of $624.8M and EPS of $0.69. The company beat EPS estimates in 1 of the last 4 quarters, and its next earnings date is November 20, 2026.

This page is an AI-written research summary of BitMine Immersion Technologies, Inc. (BMNR). 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.

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