BitMine Immersion Technologies
Operates an ETH treasury and blockchain validator infrastructure.
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Profile
The company combines ETH treasury operations with BTC ecosystem services, including advisory work, equipment leasing, and third-party power and hosting optimization. Its Pier Two acquisition added blockchain validation and staking capability.
An ETH treasury anchors a digital-asset operating model that also retains BTC ecosystem services: consulting, advisory work, equipment leasing, and third-party power and hosting optimization. These services sit alongside an asset-light operating platform, while new proprietary self-mining site builds are deferred. The company may mine or hold BTC when economics warrant.
Validator infrastructure from the Pier Two acquisition supports blockchain validation and staking activities. Headquartered in Norwalk, Connecticut, the business depends on ETH custody, cybersecurity, controls, counterparty oversight, financing capacity, and the performance and reliability of its validator infrastructure operations.
Company facts
Categories
Key statistics
Year to date −23.8% · Average volume (30d) 38.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jul 1, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $39 | $30.30 |
| Jan 5, 2026 | Cantor Fitzgerald | Target | $39 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 15, 2026Q3 FY26 | $0.13 | −$0.15 | −220.0% | $52.0M | $46.5M | −10.5% | −2.22% |
| Jul 13, 2026Q3 FY26 | −$0.04 | −$0.15 | −275.0% | $46.5M | $46.5M | 0.0% | +11.50% |
| Apr 14, 2026Q2 FY26 | $0.18 | $0.09 | −52.8% | $19.4M | $15.2M | −21.6% | +4.00% |
| Jan 14, 2026Q1 FY26 | $0.15 | −$15.98 | −10,753.3% | $79.3M | $2.3M | −97.1% | −5.48% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.5M | $2.1M | $1.3M | $2.3M | $11.0M | $46.5M | |
| Gross profit | $304.7K | $490.9K | −$605.8K | $1.3M | $9.6M | $40.8M | |
| Operating income | −$913.6K | −$468.0K | $446.5M | −$5.45B | −$3.86B | −$11.9M | |
| Net income | −$1.2M | −$622.8K | $351.3M | −$5.20B | −$3.82B | −$83.6M | |
| Diluted EPS | −$0.01 | −$0.00 | $1.60 | −$15.98 | −$8.40 | −$0.15 | |
| Gross margin | 20.1% | 23.9% | -45.7% | 55.3% | 87.1% | 87.7% | |
| Operating margin | -60.2% | -22.8% | 33,699.1% | -237,863.1% | -34,979.5% | -25.5% |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $427.7K · FY23 $645.3K · FY24 $3.3M · FY25 $6.1M
Balance sheet, May 31, 2026Cash & short-term investments $340.3M · Total debt $1.2M · Total assets $11.63B · Shareholders' equity $11.60B
Dividends
To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Dec 8, 2025 | Dec 8 | Dec 29 | $0.01 |
Ownership
Shares outstanding 569.58M · Float 529.62M · 93.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 27.30M | 4.79% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 25.67M | 4.51% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 22.34M | 3.92% | 13F | Aug 13, 2026 |
| Morgan Stanley | 16.29M | 2.86% | 13F | Aug 13, 2026 |
| Clear Street Group Inc. | 12.70M | 2.23% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 16, 2026 | Lori Love | director | +474 | $22.05 |
| Apr 20, 2026 | Lori Love | director | +227 | $22.01 |
Peers
- Sharplink
ETH treasury and staking platform focused on ETH per share
- Bit Digital
Ethereum treasury and validator-staking strategic-asset platform
- BTCS
Ethereum-first validator and block-building infrastructure operator
- Coinbase
Institutional crypto platform offering ETH staking and validators
- Galaxy Digital
Digital-asset platform with institutional validator and staking services
- Hut 8
Power and digital-infrastructure platform for Bitcoin mining and hosting
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| BitMine Immersion Technologies | $23.70 | −0.27% | $13.56B | — | 58.0 | 221.5 | +2,166.2% |
| Sharplink | $8.19 | −0.18% | $1.62B | — | 196.9 | 32.2 | +1,553.3% |
| Bit Digital | $1.44 | +1.05% | $499.3M | — | — | 4.1 | +25.1% |
| BTCS | $1.38 | +2.60% | $67.2M | — | — | 4.0 | −11.8% |
| Coinbase | $178.50 | −0.02% | $47.13B | — | 206.3 | 8.5 | −18.5% |
| Galaxy Digital | $23.29 | +0.30% | $7.70B | — | — | 0.1 | +0.6% |
| Hut 8 | $79.75 | +0.41% | $8.94B | — | — | 30.8 | +81.4% |
| Median | — | 201.6 | 6.3 | +12.8% |