Filing Flows › Bitmine Immersion Technologies (BMNR) › How it makes money
How Bitmine Immersion Technologies (BMNR) makes money
Bitmine Immersion Technologies (BMNR) made $46.5M of revenue in the third quarter fiscal 2026 (Q3 FY26), up 55-fold from a year earlier. Staking and validation brought in $45.7M (98%); Self mining brought in $624K (1%); Consulting brought in $168K (0%).
Drawing the Sankey…
Revenue by segment, Q3 FY26
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Staking and validation | $45.7M | 98.3% | — | — |
| Self mining | $624K | 1.3% | — | -23% |
| Consulting | $168K | 0.4% | — | +380% |
Where each dollar of revenue goes
| Line | Q3 FY26 | % of revenue |
|---|---|---|
| Revenue | $46.5M | 100.0% |
| Operating cash flow | $29.0M | 62.3% |
| Free cash flow | $29.0M | 62.3% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 FY26 | $46.5M | 23× |
| Q2 FY26 | $11.0M | +628% |
| Q1 FY26 | $2.3M | +91% |
| Q4 FY25 | $1.3M | +94% |
| Q3 FY25 | $2.1M | +68% |
| Q2 FY25 | $1.5M | +70% |
| Q4 FY24 | $682K | +178% |
From Bitmine Immersion Technologies' 10-Q filed Jul 14, 2026 (on EDGAR).
Questions
How does Bitmine Immersion Technologies make money?
Bitmine Immersion Technologies (BMNR) made $46.5M of revenue in the third quarter fiscal 2026 (Q3 FY26), up 55-fold from a year earlier. Staking and validation brought in $45.7M (98%); Self mining brought in $624K (1%); Consulting brought in $168K (0%).
What is Bitmine Immersion Technologies' biggest business?
Staking and validation: $45.7M in the third quarter fiscal 2026, 98% of revenue.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.