BMNR vs MARA Stock Comparison

Bitmine Immersion Technologies and MARA Holdings Prices as of Oct 23, 2026 Peers: Industry group
MARA MARA Holdings, Inc.
$7.02 -47.4% 1M -63.5% 1Y
Market cap
$2.66B
P/E
–
Revenue (TTM)
$804.22M
Div. yield
–
Crypto Mining Technology
2 wins

Head to Head

6 decided of 12

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

QuestionBMNRMARALeader
Larger companyMarket capitalisation $11.76B $2.66B BMNR
Cheaper on earningsLower P/E, profitable companies only -1.3x -0.8x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS — — –
Faster revenue growthRevenue growth, trailing twelve months +1,022.4% +0.7% BMNR
More profitableNet margin, trailing twelve months -14,334.2% -429.7% MARA
Better return on capitalReturn on invested capital — -64.0% –
Less leveragedLower net debt / EBITDA — -0.9x –
Higher dividend yieldTrailing dividend yield 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months -54.5% -63.5% BMNR
Better 5-year returnAnnualised price return, 5 years — -32.3%/yr –
Less volatileAnnualised volatility, 1 year 89.6% 84.3% MARA
Higher overall scoreMean of the five percentile scores vs peers 28/100 13/100 BMNR

Percentile Scorecard

BMNRMARA

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

AxisBMNRMARA
Valuation 17 #82 of 98 8 #90 of 98
Growth 14 #81 of 94 9 #86 of 94
Profitability 10 #81 of 90 14 #78 of 90
Financial Health 99 #2 of 105 18 #86 of 105
Shareholder Returns 0 #62 of 62 16 #52 of 62
Overall 28 13
  • BMNR ranked among 109 companies in Fintech
  • MARA ranked among 109 companies in Fintech

Price Performance

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

Returns

PeriodBMNRMARASPY
1 month -18.5%-47.4% -1.0%
3 months +41.6%-42.1% +2.9%
6 months +1.1%-39.7% +6.4%
Year to date -17.6%-21.8% +11.4%
1 year -54.5%-63.5% +13.1%
3 years —-28.1% +79.4%
3 years, per year —-10.4% +21.5%
5 years —-85.8% +67.7%
5 years, per year —-32.3% +10.9%
10 years —-81.2% +255.2%
10 years, per year —-15.4% +13.5%

Risk

MeasureBMNRMARASPY
Volatility, 1Y 89.6%84.3% 12.7%
Downside volatility, 1Y 88.2%80.2% 12.7%
Beta vs S&P 500, 1Y 3.893.35 1.00
Return / volatility, 1Y -0.61-0.75 1.03
Max drawdown, 5Y -90.1%-95.9% -25.4%
From 52-week high -58.3%-64.1% -2.5%
52-week high $53.71$19.56 $779.14
52-week low $13.31$6.73 $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.

MultipleBMNRMARA
P/E now vs peer median -1.4xmedian 21.5x -0.8xmedian 21.5x
P/S now vs peer median 212.0xmedian 2.2x 3.3xmedian 2.2x
EV/EBITDA now vs peer median -1.4xmedian 15.7x -2.2xmedian 15.7x
P/FCF now vs peer median -44.0xmedian 16.4x -2.2xmedian 16.4x
P/B now vs peer median 1.1xmedian 1.9x 1.6xmedian 1.9x
PEG now vs peer median 0.01median 1.06 0.01median 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 monthsBMNRMARA
Revenue $61.19M $804.22M
Gross profit $51.63M –
Operating income -$8.88B -$2.95B
Net income -$8.75B -$3.46B
Free cash flow -$294.56M -$1.24B
R&D – $27.65M
EPS (diluted) $-19.76 $-9.06
Cash & equivalents $340.29M $421.30M
Total debt – $12.03B
Shares (diluted) 443.95M 381.57M
Enterprise value $9.14B $354.80M

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
MetricBMNRMARA
P/E -1.4x -0.8x
P/FCF -44.0x -2.2x
P/Operating cash flow -44.3x -3.0x
P/S 212.0x 3.3x
P/B 1.1x 1.6x
P/Tangible book 17.8x -6.6x
EV/EBITDA -1.4x -2.2x
EV/EBIT -1.4x -1.6x
EV/Revenue 206.4x 5.8x
EV/FCF -42.9x -3.8x
EV/Operating cash flow -43.1x -5.2x
PEG (3Y EPS CAGR) 0.01 0.01

Growth

14 metrics
MetricBMNRMARA
Revenue growth (1Y) 1,022% 0.7%
Revenue CAGR (3Y) 409.8% 66.6%
Gross profit growth (1Y) 4,925% –
Gross profit CAGR (3Y) 915.3% –
Operating income growth (1Y) -303,259% -1,058%
Operating income CAGR (3Y) -1,575% -250.8%
Net income growth (1Y) -245,329% -610.0%
Net income CAGR (3Y) -1,536% -113.8%
EPS growth (1Y) -507.2% -688.3%
EPS CAGR (3Y) -189.0% -62.4%
Operating cash flow growth (1Y) -18,616% -5.0%
Operating cash flow CAGR (3Y) -465.8% -47.6%
Free cash flow growth (1Y) -18,922% -0.3%
Free cash flow CAGR (3Y) -369.4% -55.5%

Profitability

14 metrics
MetricBMNRMARA
Gross margin 84.4% –
EBITDA margin -14,504% -264.4%
Operating margin -14,505% -366.3%
Pretax margin -14,307% -452.2%
Net margin -14,334% -429.7%
FCF margin -481.4% -154.0%
Operating cash flow margin -479.0% -111.3%
Return on equity -81.6% -176.3%
Return on assets -81.3% -74.4%
Return on invested capital – -64.0%
Return on capital employed -82.6% -72.6%
Asset turnover 0.0x 0.2x
Cash conversion (OCF / net income) 0.0x 0.3x
Stock comp / revenue 24.6% 18.1%

Financial Health

11 metrics
MetricBMNRMARA
Debt / assets – 55.6%
Debt / equity – 1.4x
Net debt / EBITDA – -0.9x
Debt / FCF – -2.0x
Liabilities / assets 0.3% 61.4%
Equity / assets 99.7% 38.6%
Interest coverage – -69.2x
Current ratio 36.7x 0.9x
Quick ratio 28.0x 0.7x
Cash ratio 28.0x 0.7x
Altman Z-score 254.83 -2.50

Shareholder Returns

7 metrics
MetricBMNRMARA
Dividend yield 0.0% –
Net buyback yield -96.1% -8.3%
Shareholder yield -96.1% -8.3%
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.

ConsensusBMNRMARA
EPS, next fiscal year $-22.41FY2026 $-5.17FY2026
EPS growth, next FY -267.4%FY2026 –
Revenue, next fiscal year $127.50MFY2026 $811.64MFY2026
Revenue growth, next FY +1,990.2%FY2026 -10.5%FY2026
Revenue growth, the year after +380.0% +24.7%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersBMNRMARA
Held by institutions 42.5% 73.3%
Institutions holding 438 414
Change in shares held, QoQ +24.4% +14.0%
Institutions buying 276 240
Institutions selling 93 112
Buyers to sellers 2.97 2.14

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.

BMNRMARA
BMNR 1.00 0.67
MARA 0.67 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, BMNR and MARA?

Bitmine Immersion Technologies (BMNR) is the largest by market capitalisation: Bitmine Immersion Technologies (BMNR) $11.76B, MARA Holdings (MARA) $2.66B.

Which company is growing faster?

Bitmine Immersion Technologies (BMNR) grew revenue fastest over the trailing twelve months: Bitmine Immersion Technologies (BMNR) +1,022.4%, MARA Holdings (MARA) +0.7%.

Which company is more profitable?

MARA Holdings (MARA) has the highest net margin (Bitmine Immersion Technologies (BMNR) -14,334.2%, MARA Holdings (MARA) -429.7%).

Which stock has performed better?

Over the past year Bitmine Immersion Technologies (BMNR) returned the most: Bitmine Immersion Technologies (BMNR) -54.5%, MARA Holdings (MARA) -63.5%. Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, MARA Holdings (MARA) has been the steadiest (Bitmine Immersion Technologies (BMNR) 89.6%, MARA Holdings (MARA) 84.3%). Volatility measures how widely the price swings, not the risk of the business.

Do BMNR and MARA move together?

Their daily returns over the past year have a correlation of 0.67, a moderate positive relationship. Holding both diversifies more than two closely linked stocks would.

Which is the better stock, BMNR and MARA?

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.