BITMINE IMMERSION TECHNOLOGIES, INC. financial statements
Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data BITMINE IMMERSION TECHNOLOGIES, INC. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0
0.43
0.65
3.31
6.1
Cost of revenue
0
0.56
3.47
5.79
Gross profit
0
-0.13
0.22
0.76
0.31
General and administrative
0.06
0.23
0.05
2.28
14
Operating expenses
0.13
1.59
2.64
2.29
-444
Operating income
-0.13
-1.71
-2.41
-2.45
444
Interest expense
0.27
0.25
Interest income
0.06
0
Other non-operating income
-0.02
-0.29
-0.05
-0.85
Pre-tax income
-3.29
441
Income tax
92.3
Net income
-0.15
-2.01
-2.46
-3.29
349
EBITDA
-0.13
-1.71
-1.94
-1.52
445
EPS, basic
-0.38
-0.94
-0.94
-1.32
13.60
EPS, diluted
-0.38
-0.94
-0.94
-1.32
13.39
Shares, basic (weighted)
0.52
2.29
2.6
2.49
24.1
Shares, diluted (weighted)
0.52
2.29
2.6
2.49
24.5
Balance sheet
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
0.22
0.39
0.27
0.5
512
Receivables
0
0.49
0
0.37
Other current assets
0
0.01
0.11
0.67
1.01
Total current assets
0.22
0.89
0.88
1.55
513
Property, plant and equipment
0.43
6.53
4.95
4.77
0.52
Lease right-of-use assets
0
Goodwill
0
Intangible assets
0
Other non-current assets
0.67
0.52
Total assets
0.65
7.97
8.2
7.28
8,795
Accounts payable
0
0.08
0.07
0.4
8.89
Accrued liabilities
0.72
8.89
Deferred revenue
0.23
0
0.79
1.07
Total current liabilities
0.29
0.32
1.56
3.13
9.96
Lease liabilities
0
Other non-current liabilities
0
Total liabilities
0.29
0.57
1.95
3.2
102
Paid-in capital
0.82
9.87
11.2
12.3
8,355
Retained earnings
-0.46
-2.47
-4.93
-8.22
337
Other comprehensive income
0
Shareholders' equity
0.36
7.4
6.26
4.09
8,693
Minority interests
0
Total equity
0.36
7.4
6.26
4.09
8,693
Total liabilities and equity
0.65
7.97
8.2
7.28
8,795
Shares outstanding
2.14
2.58
2.63
0
232
Cash flow statement
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-0.15
-2.01
-2.46
-3.29
349
Depreciation and amortization
0
0
0.47
0.92
0.76
Stock-based compensation
0.07
0.86
1.32
1.12
2.43
Change in payables
0
Cash from operations
-0.08
-1.63
-0.81
-0.03
-4.15
Capital expenditures
-0.43
-2.77
-0.61
-0.08
-1.07
Cash from investing
-0.43
-2.77
-0.61
-0.07
-7,432
Cash from financing
0.72
4.57
1.3
0.33
7,948
Net change in cash
0.22
0.17
-0.12
0.23
512
Free cash flow
-0.5
-4.4
-1.42
-0.11
-5.21
Interest paid
0
0
Income taxes paid
0
0
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to May 31, 2026; growth uses fiscal years. Valuation uses the share price of $99.46 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
84.4%
Gross profit / revenue.
Operating margin
-14,505.0%
Operating income / revenue.
EBITDA margin
-14,504.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-14,307.0%
Pre-tax income / revenue.
Net margin
-14,307.0%
Net income / revenue.
FCF margin
-481.4%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-479.0%
Cash from operations / revenue.
Return on equity (ROE)
-75.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-75.3%
Net income / average total assets.
Return on invested capital (ROIC)
-62.3%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue
64.5%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
2.4%
Capital expenditures / revenue.
D&A / revenue
1.4%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
84.1%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
142.5%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y
-59.3%
Gross profit vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
212,646.0%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
954.9%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
120,678.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
933.2%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
883.0%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
120.5%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
36.7x
Current assets / current liabilities.
Quick ratio
28.0x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
28.0x
(Cash + short-term investments) / current liabilities.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.11
Revenue / diluted weighted shares.
FCF per share
-$0.53
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.53
Cash from operations / diluted weighted shares.
Book value per share
$20.01
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
980x
Market cap / revenue.
P/B
5.17x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
5.18x
Market cap / tangible book value, when positive.
EV/Sales
975x
Enterprise value / revenue.
FCF yield
-0.5%
Free cash flow / market cap.
Earnings yield
-14.6%
Net income / market cap (the inverse of P/E).
What was BITMINE IMMERSION TECHNOLOGIES, INC.'s revenue in fiscal 2025?
BITMINE IMMERSION TECHNOLOGIES, INC. reported revenue of $6.1M for fiscal 2025, 84.1% higher than the year before.
Was BITMINE IMMERSION TECHNOLOGIES, INC. profitable in fiscal 2025?
Yes. Net income was $348.6M, a net margin of 5,719.1%.
How much free cash flow did BITMINE IMMERSION TECHNOLOGIES, INC. generate in fiscal 2025?
Cash from operations of $4.1M minus capital expenditures of $1.1M left free cash flow of -$5.2M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.