Bitmine Immersion TECHNOLOGIES, Inc. (BMNR) intrinsic value & 10-year financials
Bitmine Immersion TECHNOLOGIES, Inc. (BMNR) has a Graham intrinsic value of $444.76 per share. At $21.66 on Oct 17, 2026, the stock trades 95% below that value. Over the last 6 fiscal years revenue grew 142.4% a year to $6.1M, with an average return on invested capital of -48.5%.
- Graham intrinsic value
- $444.76
- Share price (Oct 17, 2026)
- $21.66
- Price vs Graham value
- 95% below
- Market cap
- $531.0M
- Revenue (FY2025)
- $6.1M
- Revenue growth (6-yr CAGR)
- 142.4%
- ROIC (10-yr avg)
- -48.5%
- Free cash flow (FY2025)
- -$5.2M
BMNR 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $6.1M | $348.6M | $13.39 | -$5.2M | 7288.1% | 8.1% |
| FY2024 | $3.3M | -$3.3M | -$0.07 | -$104.7K | -73.9% | -63.7% |
| FY2023 | $645.3K | -$2.5M | -$0.05 | -$1.4M | -373.9% | -36.1% |
| FY2022 | $427.7K | -$2.0M | -$0.05 | -$7.7M | -400.8% | -51.6% |
| FY2021 | $0 | -$154.2K | -$0.02 | -$503.7K | — | -99.4% |
| FY2020 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
BITMINE IMMERSION TECHNOLOGIES, INC. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
BITMINE IMMERSION TECHNOLOGIES, INC. has historically struggled to out-earn its cost of capital, averaging just -48.5% ROIC.
BITMINE IMMERSION TECHNOLOGIES, INC. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, BITMINE IMMERSION TECHNOLOGIES, INC. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $444.76 per share.