BITMINE IMMERSION TECHNOLOGIES, INC. BMNR
Immersion Technologies, Inc. is a U.S.-based digital asset technology company focused on acquiring, holding and actively managing ETH as its primary treasury reserve asset. Through equity and other capital markets transactions, we provide investors
with indirect exposure to ETH by deploying offering proceeds to acquire and manage ETH within our corporate treasury.
2021 through mid-2025, we built and operated sites utilizing immersion cooling, conducted self-mining, provided
hosting/mining-as-a-service, leased, and sold equipment and related infrastructure. Beginning in the third calendar quarter of 2025,
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $6.1M | $3.3M | $645.3K | $427.7K | $0 | — |
| Cost of revenue | $5.8M | $3.5M | — | $556.7K | $0 | — |
| Gross profit | $310.0K | $761.0K | $222.5K | -$129.0K | $0 | — |
| SG&A | $14.0M | $2.3M | $45.0K | $227.6K | $63.8K | — |
| Total operating expenses | -$443.9M | $2.3M | $2.6M | $1.6M | $131.8K | — |
| Operating income | $444.2M | -$2.4M | -$2.4M | -$1.7M | -$131.8K | — |
| Interest expense | $245.0K | $269.0K | — | — | — | — |
| Pre-tax income | $440.9M | -$3.3M | — | — | — | — |
| Income tax | $92.3M | — | — | — | — | — |
| Net income | $348.6M | -$3.3M | -$2.5M | -$2.0M | -$154.2K | — |
| EPS, basic | 13.60 | -1.32 | -0.05 | -0.05 | -0.02 | — |
| EPS, diluted | 13.39 | -1.32 | -0.05 | -0.05 | -0.02 | — |
| Shares, diluted (wtd. avg.) | 24.5M | 2.5M | 49.1M | 43.1M | 9.8M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $512.0M | $499.0K | $270.5K | $392.6K | $218.7K | $1.9K |
| Receivables | — | $374.0K | — | $491.4K | $0 | — |
| Total current assets | $513.0M | $1.5M | $879.5K | $888.9K | $218.7K | $1.9K |
| Property, plant and equipment | $516.0K | $4.8M | $4.9M | $6.5M | $427.3K | $0 |
| Total assets | $8.80B | $7.3M | $8.2M | $8.0M | $646.0K | $1.9K |
| Accounts payable | $8.9M | $716.0K | $74.9K | $84.8K | $3.7K | $0 |
| Total current liabilities | $10.0M | $3.1M | $1.6M | $317.7K | $285.5K | $52.0K |
| Total liabilities | $102.3M | $3.2M | $1.9M | $570.0K | $285.5K | $52.0K |
| Retained earnings | $337.4M | -$8.2M | -$4.9M | -$2.5M | -$461.3K | -$307.1K |
| Total equity | $8.69B | $4.1M | $6.3M | $7.4M | $360.6K | -$50.1K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$4.1M | -$30.0K | -$809.7K | -$1.6M | -$76.4K | — |
| Depreciation and amortisation | $761.0K | $924.0K | $470.7K | $0 | $0 | — |
| Stock-based compensation | $2.4M | $1.1M | $1.3M | $856.7K | $71.2K | — |
| Capital expenditure | $1.1M | $76.0K | $612.3K | $2.8M | $427.3K | — |
| Investing cash flow | -$7.43B | -$67.0K | -$612.3K | -$2.8M | -$427.3K | — |
| Financing cash flow | $7.95B | $325.0K | $1.3M | $4.6M | $720.5K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-25-024679.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | $0 | $427.7K | $645.3K | $3.3M | $6.1M |
| Gross profit | — | $0 | -$129.0K | $222.5K | $761.0K | $310.0K |
| Net income | — | -$154.2K | -$2.0M | -$2.5M | -$3.3M | $348.6M |
Recent filings and events
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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