Bitmine Immersion Technologies, Inc. stock research
FY2025 Q2
Bitmine Immersion Technologies (BMNR) Gross Margin — Quarter Ended Feb 28, 2025
Revenue increased from the prior quarter, and gross profit rose more sharply, resulting in an improved gross margin. However, compared to the same quarter last year, revenue was higher but gross profit was lower, and cost of revenue increased substantially, leading to a weakened gross margin.
Gross margin takeaway
Quarter ended Feb 28, 2025 · FY2025 Q2
Revenue increased from the prior quarter, and gross profit rose more sharply, resulting in an improved gross margin. However, compared to the same quarter last year, revenue was higher but gross profit was lower, and cost of revenue increased substantially, leading to a weakened gross margin.
- The sequential improvement in gross margin was the most notable change, as gross profit grew at a faster pace than cost of revenue from the prior quarter.
- Compared to the immediately preceding quarter, gross margin improved. Compared to the same quarter one year earlier, gross margin weakened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
20.1%
Gross profit
$304716
Revenue
$1.5M
Cost of revenue
$1.4M
Quarter-over-quarter change
+10.1 pts
Year-over-year change
-16.2 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| May 31, 2024 | $1.2M | $221687 | $1.0M | 18.1% |
| Aug 31, 2024 | $682087 | $111636 | $570451 | 16.4% |
| Nov 30, 2024 | $1.2M | $120205 | $1.2M | 10.0% |
| Feb 28, 2025 | $1.5M | $304716 | $1.4M | 20.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Nov 30, 2024
+10.1 pts
Year-over-year change
Feb 29, 2024
-16.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The sequential improvement in gross margin was the most notable change, as gross profit grew at a faster pace than cost of revenue from the prior quarter.
Compared to the immediately preceding quarter, gross margin improved. Compared to the same quarter one year earlier, gross margin weakened.
Monitor the trend of cost of revenue relative to revenue, as the year-over-year comparison shows a significant increase in cost of revenue.