Bitmine Immersion Technologies, Inc. stock research
FY2025 Q3
Bitmine Immersion Technologies (BMNR) Gross Margin — Quarter Ended May 31, 2025
Revenue increased from the prior quarter and the same quarter last year. Gross profit rose at a faster pace than cost of revenue, leading to an improved gross margin.
Gross margin takeaway
Quarter ended May 31, 2025 · FY2025 Q3
Revenue increased from the prior quarter and the same quarter last year. Gross profit rose at a faster pace than cost of revenue, leading to an improved gross margin.
- The strongest observable margin driver was the relationship between revenue growth and cost of revenue growth. Revenue grew more than cost of revenue, allowing gross profit to expand and margin to increase.
- Compared to the immediately preceding quarter, revenue and gross profit were higher, and gross margin improved. Compared to the same quarter one year earlier, all three metrics were higher, with gross margin also improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
23.9%
Gross profit
$490872
Revenue
$2.1M
Cost of revenue
$1.7M
Quarter-over-quarter change
+3.8 pts
Year-over-year change
+5.8 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 |
|---|---|---|---|---|
| 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% |
| May 31, 2025 | $2.1M | $490872 | $1.7M | 23.9% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Feb 28, 2025
+3.8 pts
Year-over-year change
May 31, 2024
+5.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver was the relationship between revenue growth and cost of revenue growth. Revenue grew more than cost of revenue, allowing gross profit to expand and margin to increase.
Compared to the immediately preceding quarter, revenue and gross profit were higher, and gross margin improved. Compared to the same quarter one year earlier, all three metrics were higher, with gross margin also improved.
Monitor the company's ability to sustain revenue growth relative to cost of revenue, particularly given its liquidity position and net loss as discussed in the filing.