Bullish (BLSH) Cash from Operations (2024 - 2026)
Bullish's (BLSH) quarterly Cash from Operations came in at $16.9 million in Q2 2026, down 0.7% year-over-year from $17.0 million in Q2 2025, and down 81.43% quarter-over-quarter from $90.9 million in Q1 2026.
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Analysis
Bullish (BLSH) Cash from Operations (2024 - 2026) Analysis & Trends
Bullish has disclosed Cash from Operations across 3 years of filings, most recently posting $16.9 million for Q2 2026.
- In Q2 2026, Cash from Operations fell 0.7% year-over-year to $16.9 million; the TTM figure through Jun 2026 stood at $123.0 million (up 20.27% YoY), while the FY2025 annual figure was $28.6 million, down 4.49% from the prior year.
- Cash from Operations came in at $16.9 million for Q2 2026 at Bullish, down from $90.9 million in the prior quarter.
- In the past five years, Cash from Operations ranged from a high of $98.6 million in Q4 2024 to a low of -$46.6 million in Q3 2025.
- Average Cash from Operations over 3 years is $26.5 million, with a median of $16.9 million recorded in 2026.
- Year-over-year, Cash from Operations sank 376.96% in 2025 and jumped 2640.46% in 2026.
- Over 3 years, Cash from Operations stood at $98.6 million in 2024, then slumped by 37.31% to $61.8 million in 2025, then plunged by 72.69% to $16.9 million in 2026.
- Per Business Quant data, the three most recent Cash from Operations figures were $16.9 million in Q2 2026, $90.9 million in Q1 2026, and $61.8 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cash from Ops. (Qtr) |
|---|---|---|---|---|---|
| 1 | Bitmine Immersion Technologies | 57.68 Bn | 57.34 Bn | 40.81 Mn | 29.01 Mn |
| 2 | Coinbase Global | 52.26 Bn | 43.47 Bn | 1.16 Bn | 197.31 Mn |
| 3 | PayPal Holdings | 45.26 Bn | 34.01 Bn | - | 1.98 Bn |
| 4 | Block | 44.88 Bn | 38.42 Bn | 3.17 Bn | 1.02 Bn |
| 5 | Iren | 35.80 Bn | 28.23 Bn | 103.89 Mn | 1.81 Bn |
| 6 | Corpay | 25.96 Bn | 19.27 Bn | 1.19 Bn | 1.47 Bn |
| 7 | Fiserv | 24.43 Bn | 23.83 Bn | 3.59 Bn | 1.48 Bn |
| 8 | Global Payments | 22.33 Bn | 17.57 Bn | 2.03 Bn | 662.62 Mn |
| 9 | Hut 8 | 12.62 Bn | 6.14 Bn | 48.04 Mn | -5.62 Mn |
| 10 | Bullish | 6.05 Bn | 5.99 Bn | 15.53 Mn | 16.89 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 16.89 Mn |
| Mar 31, 2026 | 90.92 Mn |
| Dec 31, 2025 | 61.83 Mn |
| Sep 30, 2025 | -46.62 Mn |
| Jun 30, 2025 | 17.01 Mn |
| Mar 31, 2025 | -3.58 Mn |
| Dec 31, 2024 | 38.67 Mn |
| Sep 30, 2024 | -9.78 Mn |
| Jun 30, 2024 | 13.46 Mn |
API Access
Bullish Cash from Operations API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cash-from-operations&ticker=BLSH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cash-from-operations", "ticker": "BLSH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cash-from-operations&ticker=BLSH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();