BM
BMNR
Feb 28, 2025
Quarter ended Feb 28, 2025 · FY2025 Q2

Bitmine Immersion Technologies, Inc. stock research

Bitmine Immersion Technologies (BMNR) Free Cash Flow — Quarter Ended Feb 28, 2025

Revenue increased compared to the prior quarter and the same quarter last year. Free cash flow was negative, with a margin that improved from the year-ago period but weakened from the preceding quarter.

Free cash flow takeaway

A quick read on the company's cash generation and what it means for investors.

Revenue increased compared to the prior quarter and the same quarter last year. Free cash flow was negative, with a margin that improved from the year-ago period but weakened from the preceding quarter.

  • Operating cash flow was negative, and with no capital expenditure, free cash flow equaled operating cash flow. The free cash flow margin was negative, reflecting cash consumption relative to revenue.
  • Sequentially, revenue rose while operating cash flow became more negative, leading to a lower free cash flow margin. Compared to the same quarter last year, revenue was higher and free cash flow margin improved.

FCF snapshot

Quarterly and TTM cash-flow metrics with the minimum valuation context.

TTM free cash flow

-$173341

Trailing twelve-month free cash flow.

Quarter free cash flow

-$215000

Free cash flow in the selected fiscal quarter.

Operating cash flow

-$215000

Cash generated by operations before capital spending.

CapEx

$0

Capital spending and related asset purchases.

FCF margin

-14.2%

The share of revenue converted into free cash flow.

Cash flow trend

A short quarterly history shows whether FCF is scaling with revenue or only spiking for one period.

PeriodRevenueOperating CFCapExFCFFCF margin
2024-05-31$1.2M-$42713$18579-$61292-5.0%
2024-08-31$682087$217017$66$21695131.8%
2024-11-30$1.2M-$96000$18000-$114000-9.5%
2025-02-28$1.5M-$215000$0-$215000-14.2%

Cash conversion quality

Checks that separate high-quality free cash flow from accounting noise or working-capital timing.

FCF / net income18.6%Shows whether accounting earnings convert into cash.
CapEx / revenue0.0%Lower capital intensity usually supports FCF margin.
Net cashn/aCash and equivalents minus total debt.

Recent events shaping cash flow

Near-term business events that help explain the free cash flow result.

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Revenue Growth

Revenue rose compared to both prior periods, but the increase in revenue did not translate into positive operating cash flow, and free cash flow remained negative.

The higher revenue supported a better free cash flow margin year-over-year, but the sequential decline in margin indicates that cash conversion weakened.

What the cash flow says

How to interpret the company's free cash flow beyond the headline number.

Operating cash flow was negative, and with no capital expenditure, free cash flow equaled operating cash flow. The free cash flow margin was negative, reflecting cash consumption relative to revenue.

Sequentially, revenue rose while operating cash flow became more negative, leading to a lower free cash flow margin. Compared to the same quarter last year, revenue was higher and free cash flow margin improved.

Monitor whether capital expenditure remains at zero or resumes, as it directly affects free cash flow.