Filing Flows › Bitmine Immersion Technologies (BMNR) › Q2 FY25
Bitmine Immersion Technologies (BMNR) Q2 FY25 earnings results (second quarter fiscal 2025)
10-Q filed Apr 14, 2025
Bitmine Immersion Technologies (BMNR) reported revenue of $1.5M for the second quarter fiscal 2025 (Q2 FY25), +70% from a year earlier and +26% from the quarter before. Operating margin was -60.2%, net loss $1.2M (76.2% of revenue).
Bitmine Immersion Technologies, Q2 FY25: revenue $1.5M (+70% year over year), operating margin -60.2%, net loss $1.2M, operating cash flow −$215K. The chart follows the revenue to costs, profit and cash.
| Q2 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.5M | +26% | +70% |
| Operating profit | −$913K | — | — |
| Net earnings | −$1.2M | — | — |
| Operating cash flow | −$215K | -199% | — |
What changed
Revenue was $1.5M in Q2 FY25, up 70% year over year and up 26% from the previous quarter.
Gross margin was 20.1%, down 16.2 points from a year earlier. Operating costs exceeded revenue by $913K, an operating margin of -60.2%. Operating expenses grew 25% against revenue growth of 70%. The fastest-growing cost line was General & admin (+46%). The quarter ended with a net loss of $1.2M, wider than the previous quarter's $1.0M loss.
Operating cash flow was −$215K. Non-cash charges added back $228K of depreciation and $201K of share-based compensation. Working capital and other items added $512K.
Questions
What was Bitmine Immersion Technologies' revenue in the second quarter fiscal 2025?
Bitmine Immersion Technologies (BMNR) reported revenue of $1.5M for the second quarter fiscal 2025 (Q2 FY25), +70% from a year earlier and +26% from the quarter before.
Was Bitmine Immersion Technologies profitable in the second quarter fiscal 2025?
Operating loss was $913K (-60.2% of revenue) and net loss $1.2M.