BMNR vs BTDR vs HIVE Stock Comparison

Bitmine Immersion Technologies, Bitdeer Technologies and HIVE Digital Technologies Prices as of Oct 23, 2026 Peers: Industry group

Head to Head

9 decided of 12

Bitmine Immersion Technologies leads on 4 of the 12 questions below (Bitmine Immersion Technologies 4, Bitdeer Technologies 3, HIVE Digital Technologies 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionBMNRBTDRHIVELeader
Larger companyMarket capitalisation $11.56B $1.45B $504.55M BMNR
Cheaper on earningsLower P/E, profitable companies only -1.3x -2.0x -1.5x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS — — — –
Faster revenue growthRevenue growth, trailing twelve months +1,022.4% +127.7% +157.5% BMNR
More profitableNet margin, trailing twelve months -14,334.2% -87.4% -98.5% BTDR
Better return on capitalReturn on invested capital — -14.4% -57.2% BTDR
Less leveragedLower net debt / EBITDA — 3.6x 2.0x HIVE
Higher dividend yieldTrailing dividend yield 0.00% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months -54.5% -68.0% -62.3% BMNR
Better 5-year returnAnnualised price return, 5 years — -6.9%/yr -35.9%/yr BTDR
Less volatileAnnualised volatility, 1 year 89.6% 103.5% 93.8% BMNR
Higher overall scoreMean of the five percentile scores vs peers 28/100 24/100 37/100 HIVE

Percentile Scorecard

BMNRBTDRHIVE

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisBMNRBTDRHIVE
Valuation 17 #82 of 98 32 #67 of 98 54 #46 of 98
Growth 14 #81 of 94 23 #73 of 94 30 #66 of 94
Profitability 10 #81 of 90 34 #60 of 90 30 #63 of 90
Financial Health 99 #2 of 105 27 #77 of 105 61 #42 of 105
Shareholder Returns 0 #62 of 62 7 #58 of 62 10 #56 of 62
Overall 28 24 37
  • BMNR ranked among 109 companies in Fintech
  • BTDR ranked among 109 companies in Fintech
  • HIVE ranked among 109 companies in Fintech

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodBMNRBTDRHIVESPY
1 month -18.5%-43.5%-42.7% -1.0%
3 months +41.6%-39.8%-34.8% +2.9%
6 months +1.1%-42.3%-23.4% +6.4%
Year to date -17.6%-37.9%-25.2% +11.4%
1 year -54.5%-68.0%-62.3% +13.1%
3 years —+124.5%-43.4% +79.4%
3 years, per year —+31.0%-17.3% +21.5%
5 years —-30.1%-89.2% +67.7%
5 years, per year —-6.9%-35.9% +10.9%
10 years ——+1,830.0% +255.2%
10 years, per year ——+34.5% +13.5%

Risk

MeasureBMNRBTDRHIVESPY
Volatility, 1Y 89.6%103.5%93.8% 12.7%
Downside volatility, 1Y 88.2%108.7%88.7% 12.7%
Beta vs S&P 500, 1Y 3.894.033.60 1.00
Return / volatility, 1Y -0.61-0.66-0.66 1.03
Max drawdown, 5Y -90.1%-79.5%-94.6% -25.4%
From 52-week high -58.3%-71.2%-68.0% -2.5%
52-week high $53.71$24.16$6.03 $779.14
52-week low $13.31$6.96$1.75 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleBMNRBTDRHIVE
P/E now vs peer median -1.4xmedian 21.5x -2.0xmedian 21.5x -1.6xmedian 21.5x
P/S now vs peer median 212.0xmedian 2.2x 2.0xmedian 2.2x 1.6xmedian 2.2x
EV/EBITDA now vs peer median -1.4xmedian 15.7x 11.5xmedian 15.7x -4.0xmedian 15.7x
P/FCF now vs peer median -44.0xmedian 16.4x -1.4xmedian 16.4x -5.3xmedian 16.4x
P/B now vs peer median 1.1xmedian 1.9x 1.5xmedian 1.9x 1.3xmedian 1.9x
PEG now vs peer median 0.01median 1.06 0.02median 1.06 0.03median 1.06

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsBMNRBTDRHIVE
Revenue $61.19M $812.19M $331.30M
Gross profit $51.63M $3.20M -$85.83M
Operating income -$8.88B -$329.95M -$289.12M
Net income -$8.75B -$601.10M -$326.37M
Free cash flow -$294.56M -$1.18B -$100.54M
R&D – $130.54M –
EPS (diluted) $-19.76 $-5.17 $-1.23
Cash & equivalents $340.29M $456.84M $208.04M
Total debt – $4.10B $90.28M
Shares (diluted) 443.95M 137.43M 266.25M
Enterprise value $8.94B $376.32M $236.68M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricBMNRBTDRHIVE
P/E -1.4x -2.0x -1.6x
P/FCF -44.0x -1.4x -5.3x
P/Operating cash flow -44.3x -1.0x 9.4x
P/S 212.0x 2.0x 1.6x
P/B 1.1x 1.5x 1.3x
P/Tangible book 17.8x 1.6x 1.3x
EV/EBITDA -1.4x 11.5x -4.0x
EV/EBIT -1.4x -7.2x -1.2x
EV/Revenue 206.4x 2.9x 1.1x
EV/FCF -42.9x -2.0x -3.5x
EV/Operating cash flow -43.1x -1.5x 6.3x
PEG (3Y EPS CAGR) 0.01 0.02 0.03

Growth

14 metrics
MetricBMNRBTDRHIVE
Revenue growth (1Y) 1,022% 127.7% 157.5%
Revenue CAGR (3Y) 409.8% 45.4% 19.9%
Gross profit growth (1Y) 4,925% -79.8% -99.0%
Gross profit CAGR (3Y) 915.3% -57.8% –
Operating income growth (1Y) -303,259% 50.6% -343.8%
Operating income CAGR (3Y) -1,575% -48.5% -54.7%
Net income growth (1Y) -245,329% -1,232% -748.7%
Net income CAGR (3Y) -1,536% -91.9% -27.5%
EPS growth (1Y) -507.2% -31.6% -569.8%
EPS CAGR (3Y) -189.0% -87.6% -45.0%
Operating cash flow growth (1Y) -18,616% -56.6% 79.7%
Operating cash flow CAGR (3Y) -465.8% – 6.9%
Free cash flow growth (1Y) -18,922% -46.6% 15.3%
Free cash flow CAGR (3Y) -369.4% – -77.4%

Profitability

14 metrics
MetricBMNRBTDRHIVE
Gross margin 84.4% 0.4% -25.9%
EBITDA margin -14,504% 25.5% -26.3%
Operating margin -14,505% -40.6% -87.3%
Pretax margin -14,307% -39.1% -88.0%
Net margin -14,334% -87.4% -98.5%
FCF margin -481.4% -145.8% -30.3%
Operating cash flow margin -479.0% -200.1% 17.0%
Return on equity -81.6% -48.9% -73.6%
Return on assets -81.3% -13.7% -44.8%
Return on invested capital – -14.4% -57.2%
Return on capital employed -82.6% -13.6% -45.3%
Asset turnover 0.0x 0.2x 0.4x
Cash conversion (OCF / net income) 0.0x 2.7x -0.2x
Stock comp / revenue 24.6% 4.0% 8.1%

Financial Health

11 metrics
MetricBMNRBTDRHIVE
Debt / assets – 35.1% 3.3%
Debt / equity – 1.1x 0.1x
Net debt / EBITDA – 3.6x 2.0x
Debt / FCF – -1.0x -0.3x
Liabilities / assets 0.3% 68.0% 54.3%
Equity / assets 99.7% 32.0% 45.7%
Interest coverage – -3.0x -121.8x
Current ratio 36.7x 1.0x 2.0x
Quick ratio 28.0x 0.6x 1.6x
Cash ratio 28.0x 0.5x 1.5x
Altman Z-score 254.83 0.02 -0.72

Shareholder Returns

7 metrics
MetricBMNRBTDRHIVE
Dividend yield 0.0% – –
Net buyback yield -96.1% -52.3% -30.1%
Shareholder yield -96.1% -52.3% -30.1%
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusBMNRBTDRHIVE
EPS, next fiscal year $-22.41FY2026 $-1.75FY2026 $-0.87FY2026
EPS growth, next FY -267.4%FY2026 – –
Revenue, next fiscal year $127.50MFY2026 $969.71MFY2026 $388.53MFY2026
Revenue growth, next FY +1,990.2%FY2026 +56.3%FY2026 +30.5%FY2026
Revenue growth, the year after +380.0% +62.6% +29.6%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersBMNRBTDRHIVE
Held by institutions 42.5% 76.0% 40.3%
Institutions holding 438 237 190
Change in shares held, QoQ +24.4% +48.3% +41.2%
Institutions buying 276 170 131
Institutions selling 93 47 33
Buyers to sellers 2.97 3.62 3.97

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

BMNRBTDRHIVE
BMNR 1.00 0.52 0.57
BTDR 0.52 1.00 0.62
HIVE 0.57 0.62 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, BMNR, BTDR and HIVE?

Bitmine Immersion Technologies (BMNR) is the largest by market capitalisation: Bitmine Immersion Technologies (BMNR) $11.56B, Bitdeer Technologies (BTDR) $1.45B, HIVE Digital Technologies (HIVE) $504.55M.

Which company is growing faster?

Bitmine Immersion Technologies (BMNR) grew revenue fastest over the trailing twelve months: Bitmine Immersion Technologies (BMNR) +1,022.4%, Bitdeer Technologies (BTDR) +127.7%, HIVE Digital Technologies (HIVE) +157.5%.

Which company is more profitable?

Bitdeer Technologies (BTDR) has the highest net margin (Bitmine Immersion Technologies (BMNR) -14,334.2%, Bitdeer Technologies (BTDR) -87.4%, HIVE Digital Technologies (HIVE) -98.5%). On return on invested capital, Bitdeer Technologies (BTDR) leads (Bitdeer Technologies (BTDR) -14.4%, HIVE Digital Technologies (HIVE) -57.2%).

Which stock has performed better?

Over the past year Bitmine Immersion Technologies (BMNR) returned the most: Bitmine Immersion Technologies (BMNR) -54.5%, Bitdeer Technologies (BTDR) -68.0%, HIVE Digital Technologies (HIVE) -62.3%. Over five years, Bitdeer Technologies (BTDR) compounded fastest (Bitdeer Technologies (BTDR) -6.9%/yr, HIVE Digital Technologies (HIVE) -35.9%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Bitmine Immersion Technologies (BMNR) has been the steadiest (Bitmine Immersion Technologies (BMNR) 89.6%, Bitdeer Technologies (BTDR) 103.5%, HIVE Digital Technologies (HIVE) 93.8%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, BMNR, BTDR and HIVE?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Bitmine Immersion Technologies (BMNR) leads on 4. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.