BitMine Immersion Technologies (BitMine Immersion Technologies) Cash-to-Debt : 0.20 (As of Feb. 2024)

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What is BitMine Immersion Technologies Cash-to-Debt?

Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. BitMine Immersion Technologies's cash to debt ratio for the quarter that ended in Feb. 2024 was 0.20.

If Cash to Debt ratio is less than 1, the company cannot pay off its debt using the cash in hand. Here we can see, BitMine Immersion Technologies couldn't pay off its debt using the cash in hand for the quarter that ended in Feb. 2024.

The historical rank and industry rank for BitMine Immersion Technologies's Cash-to-Debt or its related term are showing as below:

BMNR' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.2 Med: 0.32 Max: No Debt
Current: 0.2

During the past 2 years, BitMine Immersion Technologies's highest Cash to Debt Ratio was No Debt. The lowest was 0.20. And the median was 0.32.

BMNR's Cash-to-Debt is ranked worse than
83.77% of 795 companies
in the Capital Markets industry
Industry Median: 1.89 vs BMNR: 0.20

BitMine Immersion Technologies Cash-to-Debt Historical Data

The historical data trend for BitMine Immersion Technologies's Cash-to-Debt can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.

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BitMine Immersion Technologies Cash-to-Debt Chart

BitMine Immersion Technologies Annual Data

Trend

Aug22

Aug23

Cash-to-Debt

No Debt

0.21

BitMine Immersion Technologies Quarterly Data
	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
Cash-to-Debt	Get a 7-Day Free Trial				0.50	0.40	0.21	0.23	0.20

Competitive Comparison of BitMine Immersion Technologies's Cash-to-Debt

For the Capital Markets subindustry, BitMine Immersion Technologies's Cash-to-Debt, along with its competitors' market caps and Cash-to-Debt data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

BitMine Immersion Technologies's Cash-to-Debt Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, BitMine Immersion Technologies's Cash-to-Debt distribution charts can be found below:

* The bar in red indicates where BitMine Immersion Technologies's Cash-to-Debt falls into.

BitMine Immersion Technologies Cash-to-Debt Calculation

This is the ratio of a company's Cash, Cash Equivalents, Marketable Securities to its debt. The debt includes the Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation. This ratio measures the financial strength of a company. This ratio is updated quarterly.

BitMine Immersion Technologies's Cash to Debt Ratio for the fiscal year that ended in Aug. 2023 is calculated as:

Cash to Debt Ratio	=	Cash, Cash Equivalents, Marketable Securities	/	Total Debt
	=	Cash, Cash Equivalents, Marketable Securities	/	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)
	=	0.271	/	(1.3	+	0)
	=	0.21

BitMine Immersion Technologies's Cash to Debt Ratio for the quarter that ended in Feb. 2024 is calculated as:

Cash to Debt Ratio	=	Cash, Cash Equivalents, Marketable Securities	/	Total Debt
	=	Cash, Cash Equivalents, Marketable Securities	/	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)
	=	0.342	/	(1.719	+	0)
	=	0.20

BitMine Immersion Technologies (OTCPK:BMNR) Cash-to-Debt Explanation

If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.

BitMine Immersion Technologies Cash-to-Debt Related Terms

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BitMine Immersion Technologies (BitMine Immersion Technologies) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » BitMine Immersion Technologies Inc (OTCPK:BMNR) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

N/A

Address

2030 Powers Ferry Road SE, Suite No. 212, Atlanta, GA, USA, 30339

Website

https://www.bitminetech.io

BitMine Immersion Technologies Inc is a blockchain technology company that is building out industrial-scale digital asset mining, equipment sales, and hosting operations. The company's primary business is data center focused, both mining Bitcoin for its own account as well as hosting third-party Bitcoin mining servers.