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Bitmine Immersion Technologies cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$29.0M in Q3 FY26 · −$295M over twelve months

Operating cash flow$29.0M
Capital spending−$30K
Free cash flow+$29.0M

Analysis

In Q3 FY26, Bitmine Immersion Technologies generated $29.0M of operating cash flow and spent $30K on capital projects, leaving free cash flow of $29.0M. That is $27.3M more than in Q3 FY25 ($1.7M).

Over the twelve months to May 31, 2026, operating cash flow was −$293M; the largest uses were other investing ($19.5B), operating cash flow ($293M), capital spending ($1.5M); besides operations, cash came from other financing ($20.2B); the cash balance rose by $339M.

Operating cash flow was $29.0M against net income of −$83.6M. The largest differences: other liabilities +$65.4M, stock-based pay +$13.3M, accrued liabilities −$4.5M.

Free cash flow

Bitmine Immersion Technologies: free cash flow by quarterBitmine Immersion Technologies: free cash flow by quarter$217KQ4 FY24−$114KQ1 FY25−$215KQ2 FY25$1.7MQ3 FY25−$6.6MQ4 FY25−$229MQ1 FY26−$88.2MQ2 FY26$29.0MQ3 FY26
Operating cash flow less capital spending.
Bitmine Immersion Technologies: operating cash flow against capital spendingBitmine Immersion Technologies: operating cash flow against capital spendingOperating cash flowCapital spending$217K$66Q4 FY24−$96K$18KQ1 FY25−$215K$0Q2 FY25$1.7M$0Q3 FY25−$5.5M$1.0MQ4 FY25−$228M$376KQ1 FY26−$88.2M$0Q2 FY26$29.0M$30KQ3 FY26
Latest (Q3 FY26): Operating cash flow $29.0M, Capital spending $30K.

Capital allocation, year by year

Bitmine Immersion Technologies: where the cash came from (up) and went (down), by fiscal yearBitmine Immersion Technologies: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY21: Operating cash flow −$76KFY21: Capital spending −$427KFY21FY22: Operating cash flow −$1.6MFY22: Asset sales $169KFY22: Capital spending −$2.8M$169KFY22FY23: Operating cash flow −$810KFY23: Capital spending −$612KFY23FY24: Operating cash flow −$30KFY24: Capital spending −$565KFY24FY25: Operating cash flow −$4.1MFY25: Net borrowing $78KFY25: Shares issued $25KFY25: Capital spending −$1.1M$103KFY25
Over these 5 years operating cash flow totalled −$6.7M; the largest uses were operating cash flow ($6.7M) and capital spending ($5.4M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$340M
Debtnone
Net cash$340M
Cash runway14 months

Bitmine Immersion Technologies is burning cash: its operations consume cash, a free cash flow of −$295M a year at the current rate against $340M of cash and investments: a runway of about 14 months before any new financing.

Where the cash came from and went

Bitmine Immersion Technologies: sources (+) and uses (−) of cash, Q3 FY26Bitmine Immersion Technologies: sources (+) and uses (−) of cash, Q3 FY26Other investing−$2.4BOther financing$1.8BCash drawn (+) / kept (−)$539MOperating cash flow$29.0MAsset & business sales$200KCapital spending−$30K
Bitmine Immersion Technologies: sources (+) and uses (−) of cash, TTM to Q3 FY26Bitmine Immersion Technologies: sources (+) and uses (−) of cash, TTM to Q3 FY26Other financing$20.2BOther investing−$19.5BCash drawn (+) / kept (−)−$339MOperating cash flow−$293MCapital spending−$1.5M

From profit to cash

Bitmine Immersion Technologies: net income to operating cash flow, Q3 FY26Bitmine Immersion Technologies: net income to operating cash flow, Q3 FY26Net income−$83.6MDepreciation & amortization$702KStock-based pay$13.3MAccrued liabilities−$4.5MDeferred revenue−$169KPrepaid and other assets$1.0MOther liabilities$65.4MOperating cash flow$29.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 FY26$29.0M−$30K——$539M$29.0M
Q2 FY26−$88.2M———$8.1M−$88.2M
Q1 FY26−$228M−$376K——−$376M−$229M
Q4 FY25−$5.5M−$1.0M——−$511M−$6.6M
Q3 FY25$1.7M—−$686K—−$990K$1.7M
Q2 FY25−$215K—−$100K—$314K−$215K
Q1 FY25−$96K−$18K−$63K$25K−$298K−$114K
Q4 FY24$217K−$66——−$218K$217K

Bitmine Immersion Technologies: income statement and cash flow

Bitmine Immersion Technologies, Q3 FY26: revenue $46.5M (23× year over year), operating margin -25.5%. The chart follows the revenue to costs, profit and cash.

Bitmine Immersion Technologies: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.