Filing Flows › Bitmine Immersion Technologies (BMNR) › Q3 FY26 › vs Q3 FY25
Bitmine Immersion Technologies (BMNR) Q3 FY26 vs Q3 FY25 (year over year)
Bitmine Immersion Technologies's revenue rose $44.5M (23×) from $2.1M in Q3 FY25 to $46.5M in Q3 FY26. The biggest changes: Staking and validation +$45.7M (—); Self mining −$189K (-23%); Consulting +$133K (+380%).
Bitmine Immersion Technologies, Q3 FY26: revenue $46.5M (23× year over year), operating margin -25.5%, net loss $83.6M, operating cash flow $29.0M. The chart draws each line against Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Free cash flow margin | 62.3% | 81.7% | -19.5 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| Staking and validation | $45.7M | $0 | $45.7M | — |
| Self mining | $624K | $813K | −$189K | -23% |
| Consulting | $168K | $35K | $133K | +380% |
| Revenue | $46.5M | $2.1M | $44.5M | 23× |
| Net loss | $83.6M | $623K | $83.0M | 134× |
| Costs & expenses | $130M | $2.7M | $127M | 49× |
| Operating costs | $58.4M | $2.5M | $55.9M | 23× |
| Interest & other, net | $71.7M | $155K | $71.6M | 463× |
| General & admin | $37.3M | $744K | $36.5M | 50× |
| Other operating costs | $15.4M | $215K | $15.2M | 72× |
| Operating cash sources | $113M | $2.3M | $110M | 49× |
| Depreciation & amortization | $702K | $181K | $521K | +288% |
| Share-based compensation | $13.3M | $647K | $12.6M | 20× |
| Working capital & other | $98.6M | $1.5M | $97.2M | 67× |
| Net loss absorbed | $83.6M | $623K | $83.0M | 134× |
| Operating cash flow | $29.0M | $1.7M | $27.3M | 17× |
| Free cash flow (OCF − capex) | $29.0M | $1.7M | $27.3M | 17× |
| Capital expenditures | $30K | $0 | $30K | — |
Questions
How much did Bitmine Immersion Technologies's revenue grow year over year in Q3 FY26?
Bitmine Immersion Technologies's revenue rose $44.5M (23×) from $2.1M in Q3 FY25 to $46.5M in Q3 FY26.
What drove Bitmine Immersion Technologies's revenue change in Q3 FY26?
Staking and validation +$45.7M (—); Self mining −$189K (-23%); Consulting +$133K (+380%).