Bitmine Immersion Technologies (BMNP) Gross Margin (2022 - 2026)
Bitmine Immersion Technologies' (BMNP) quarterly Gross Margin came in at 87.7% in Q2 2026, up 6377.0% on a YoY basis from 1.35% in Q2 2025, and up 0.7% quarter-over-quarter from 87.08% in Q1 2026.
Analysis
Bitmine Immersion Technologies (BMNP) Gross Margin (2022 - 2026) Analysis & Trends
Bitmine Immersion Technologies (BMNP) has reported Gross Margin for 5 consecutive years, with 87.7% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin rose 6377.0% year-over-year to 87.7%; the trailing twelve-month figure through May 2026 stood at 84.36% (up 6552.0% YoY), and the FY2025 full-year result was 5.09%, down 1791.0% from the prior year.
- Gross Margin climbed to 87.7% in Q2 2026 per BMNP's latest filing, from 87.08% in the prior quarter.
- Across five years, Gross Margin topped out at 87.7% in Q2 2026 and bottomed at 501.87% in Q2 2022.
- Historically, Gross Margin has averaged 13.67% across 5 years, with a median of 22.14% in 2025.
- The sharpest annual moves came in 2023 and 2024: Gross Margin soared 55093 bps in 2023, then sank 3097 bps in 2024.
- Over 5 years, Gross Margin stood at 16.48% in 2022, then jumped by 224 bps to 20.36% in 2023, then plunged by 51 bps to 10.01% in 2024, then surged by 453 bps to 55.34% in 2025, then soared by 58 bps to 87.7% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 87.7%, 87.08%, and 55.34% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Bitmine Immersion Technologies | 53.91 Bn | 53.57 Bn | 40.81 Mn | 87.70% |
| 2 | Iren | 14.89 Bn | 7.32 Bn | 103.89 Mn | 75.71% |
| 3 | Hut 8 | 11.74 Bn | 4.95 Bn | 48.04 Mn | 64.11% |
| 4 | Riot Platforms | 7.69 Bn | 7.14 Bn | 84.97 Mn | 48.77% |
| 5 | Argo Blockchain | 6.35 Bn | 6.34 Bn | - | - |
| 6 | MARA Holdings | 4.48 Bn | 4.04 Bn | - | - |
| 7 | Cleanspark | 3.59 Bn | 3.38 Bn | - | - |
| 8 | Bitdeer Technologies | 2.57 Bn | 2.11 Bn | -8.53 Mn | -3.73% |
| 9 | Keel Infrastructure | 2.26 Bn | 2.26 Bn | -86.75 Mn | -285.09% |
| 10 | HIVE Digital Technologies | 841.35 Mn | 602.32 Mn | -29.49 Mn | -37.27% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| May 31, 2026 | 87.70% |
| Feb 28, 2026 | 87.08% |
| Nov 30, 2025 | 55.34% |
| Aug 31, 2025 | -5.06% |
| May 31, 2025 | 23.92% |
| Feb 28, 2025 | 20.09% |
| Nov 30, 2024 | 10.01% |
| Aug 31, 2024 | 16.37% |
| May 31, 2024 | 18.10% |
| Feb 29, 2024 | 36.30% |
| Nov 30, 2023 | 20.36% |
| Aug 31, 2023 | 44.37% |
| May 31, 2023 | 49.06% |
| Feb 28, 2023 | 38.84% |
| Nov 30, 2022 | -16.48% |
| Aug 31, 2022 | -263.69% |
| May 31, 2022 | -501.87% |
| Feb 28, 2022 | 33.54% |