BitMine Immersion Technologies, Inc. (BMNR) Cash Flow Statement
Where BMNR’s cash came from and went, FY2025
August 31, 2025 · U.S. dollars- Cash from operations
- −$4.1M
- Capital expenditures
- $1.1M 17.5% of revenue
- Free cash flow
- −$5.2M −85.5% margin
- Returned to shareholders
- $3.0M
- Change in cash
- $511.5M cash at year-end $512.0M
Drawn to scale: where the cash came from and how it was used. Hover for values.
BMNR operating cash flow, capex and free cash flow
BMNR cash flow trends, FY2012–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $2,771FY2012 | −$4.1MFY2025 | — | |
| Capital expenditures | $0FY2012 | $1.1MFY2025 | — | |
| Free cash flow | $2,770FY2012 | −$5.2MFY2025 | — | |
| Free cash flow margin | 0.5%FY2012 | −85.5%FY2025 | −86.0 pts | |
| Operating cash flow / net income | 7.18FY2012 | −0.01FY2025 | −7.19 | |
| Stock-based compensation | $71,250FY2021 | $2.4MFY2025 | +141.5%/yr | |
| Capex / revenue | 0.0%FY2012 | 17.5%FY2025 | +17.5 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BMNR cash flow by activity
BMNR net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
BMNR cash flow statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2013 | FY2012 | |
|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||
| Net income | $328.2M | −$3.3M | −$2.5M | −$2.0M | −$154,239 | −$9,348 | −$29,199 | $386 |
| Depreciation & amortization | $761,000 | $923,545 | $470,705 | $3,125 | — | — | $9,166 | $767 |
| Stock-based compensation | $2.4M | $1.1M | $1.3M | $856,724 | $71,250 | — | — | — |
| Change in working capital | $98.9M | $789,494 | −$256,529 | −$483,860 | $6,628 | $9,348 | — | — |
| Other non-cash items | −$434.4M | $427,573 | $122,949 | $1 | $0 | $9,348 | −$8,673 | $1,618 |
| Cash from operating activities | −$4.1M | −$28,753 | −$809,715 | −$1.6M | −$76,361 | $9,348 | −$28,706 | $2,771 |
| Investing activities | ||||||||
| Capital expenditures | −$1.1M | −$75,934 | −$612,288 | −$2.8M | −$427,296 | $0 | −$4 | $0 |
| Investments (net) | −$7.43B | −$67,525 | −$612,288 | −$2.8M | — | — | — | — |
| Acquisitions & other investing | $1.1M | $75,934 | $612,288 | $2.8M | $0 | — | — | −$25,000 |
| Cash from investing activities | −$7.43B | −$67,525 | −$612,288 | −$2.8M | −$427,296 | — | — | −$25,000 |
| Financing activities | ||||||||
| Dividends paid | −$3.0M | — | — | — | — | — | — | — |
| Net borrowing (repayment) | −$617,000 | $325,000 | $1.3M | $2.8M | — | — | — | — |
| Shares issued | $7.95B | $0 | $0 | $1.8M | $0 | $0 | $0 | $0 |
| Other financing | $3.0M | $0 | $0 | $0 | $720,464 | — | $4,825 | $44,000 |
| Cash from financing activities | $7.95B | $325,000 | $1.3M | $4.6M | $720,464 | — | $4,825 | $44,000 |
| Summary | ||||||||
| Net change in cash | $511.5M | $228,723 | −$122,003 | $173,813 | $216,807 | $9,348 | $1,375 | — |
| Cash at end of period | $512.0M | $499,270 | $270,547 | $392,550 | $218,737 | $9,348 | $1,375 | — |
| Free cash flow | −$5.2M | −$104,687 | −$1.4M | −$4.4M | −$503,657 | $9,348 | −$28,710 | $2,770 |
| Free cash flow margin | −85.5% | −3.2% | −220.4% | −1,028.0% | — | — | −33.0% | 0.5% |
| Capex / revenue | 17.5% | 2.3% | 94.9% | 647.1% | — | — | 0.0% | 0.0% |
| Operating cash flow / net income | −0.01 | — | — | — | — | — | — | 7.18 |
| May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | May '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$83.6M | −$3.82B | −$5.20B | $351.3M | −$622,762 | −$1.2M | −$974,738 | −$813,871 | −$648,110 | −$900,652 | −$929,870 | −$523,704 |
| Depreciation & amortization | $383,000 | $124,000 | $124,000 | $221,946 | $180,735 | $227,694 | $130,625 | $238,981 | $226,663 | $235,371 | $222,530 | $147,005 |
| Stock-based compensation | $13.3M | $24.4M | $677,000 | $1.1M | $647,567 | $200,657 | $471,122 | $288,711 | $279,496 | $275,434 | $279,497 | $293,335 |
| Change in working capital | $154.9M | −$66.1M | −$88.7M | $96.6M | $1.6M | $404,961 | $269,334 | $279,124 | $21,377 | $200,049 | $155,087 | $92,499 |
| Other non-cash items | −$55.9M | $3.77B | $5.06B | −$454.7M | −$171,583 | $109,369 | $7,723 | $225,319 | $77,861 | $30,784 | $227,466 | $0 |
| Cash from operating activities | $29.0M | −$88.2M | −$228.4M | −$5.5M | $1.7M | −$214,210 | −$95,934 | $218,264 | −$42,713 | −$159,014 | −$45,290 | $9,135 |
| Investing activities | ||||||||||||
| Capital expenditures | −$30,000 | $0 | −$376,000 | −$1.0M | $0 | −$1.5M | −$18,000 | $0 | −$18,579 | −$22,373 | −$79,728 | −$261,257 |
| Investments (net) | −$2.46B | −$2.32B | −$7.42B | −$7.43B | $0 | $0 | −$18,000 | $1 | −$18,580 | — | — | — |
| Acquisitions & other investing | $98.6M | $100,000 | $510,000 | $1.0M | — | $2.9M | $18,000 | — | $18,579 | $53,155 | $0 | $0 |
| Cash from investing activities | −$2.36B | −$2.32B | −$7.42B | −$7.43B | — | $1.5M | −$18,000 | — | −$18,580 | $30,782 | −$79,728 | −$261,257 |
| Financing activities | ||||||||||||
| Dividends paid | $0 | −$4.3M | — | −$352 | — | — | −$3.0M | — | — | — | — | — |
| Net borrowing (repayment) | $0 | $0 | $0 | −$18,363 | −$685,462 | −$100,148 | $186,973 | $0 | — | — | — | — |
| Shares issued | $2.17B | $2.40B | $7.66B | $7.95B | $0 | $0 | $225,000 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$374.8M | $212,000 | $362.1M | $352 | $0 | $0 | $3.0M | $0 | $0 | — | $325,000 | $500,000 |
| Cash from financing activities | $1.79B | $2.40B | $8.03B | $7.95B | −$685,462 | −$100,148 | $411,973 | $0 | $0 | — | $325,000 | $500,000 |
| Summary | ||||||||||||
| Net change in cash | −$539.3M | −$8.1M | $375.7M | $510.5M | $990,550 | −$314,359 | $298,040 | $218,266 | −$61,292 | −$128,233 | $199,982 | $247,878 |
| Cash at end of period | $340.3M | $879.6M | $887.7M | $512.0M | $1.5M | $482,951 | $797,310 | $499,270 | $281,004 | $342,296 | $470,529 | $518,425 |
| Free cash flow | $29.0M | −$88.2M | −$228.7M | −$6.6M | $1.7M | −$214,210 | −$113,934 | $218,264 | −$61,292 | −$136,641 | −$125,018 | −$252,122 |
| Free cash flow margin | 62.3% | −799.2% | −9,975.2% | −495.3% | 81.7% | −14.1% | −9.5% | 32.0% | −5.0% | −15.3% | −24.5% | −177.4% |
| Capex / revenue | 0.1% | 0.0% | 16.4% | 79.0% | 0.0% | 97.3% | 1.5% | 0.0% | 1.5% | 2.5% | 15.6% | 183.8% |
| Operating cash flow / net income | — | — | — | −0.02 | — | — | — | — | — | — | — | — |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
BMNR cash generation
In fiscal 2025 (ended August 31, 2025), BitMine Immersion Technologies generated -$4.1 million of cash from operations and spent $1.1 million on capital expenditures, leaving free cash flow of -$5.2 million, −85.5% of revenue. It returned $3.0 million to shareholders through dividends ($3.0 million) and net share buybacks ($0). Cash and equivalents rose by $511.5 million over the year.
Related: BMNR income statement, BMNR balance sheet. See the BMNR stock overview for the latest quote and news.
BMNR cash flow FAQ
What is BitMine Immersion Technologies's free cash flow?
BitMine Immersion Technologies's free cash flow was -$5.2 million in fiscal 2025: -$4.1 million of operating cash flow minus $1.1 million of capital expenditures It was -$0.1 million a year earlier..
How much cash does BitMine Immersion Technologies generate from operations?
BitMine Immersion Technologies generated -$4.1 million of cash from operating activities in fiscal 2025, −0.01 times its net income of $328.2 million.
How much does BitMine Immersion Technologies spend on capital expenditures?
BitMine Immersion Technologies spent $1.1 million on capital expenditures in fiscal 2025, 17.5% of revenue, compared with $0.1 million the year before.
How much does BitMine Immersion Technologies pay in dividends?
BitMine Immersion Technologies paid $3.0 million in dividends in fiscal 2025.