BitMine Immersion Technologies (BitMine Immersion Technologies) COGS-to-Revenue : 0.64 (As of Feb. 2024)

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What is BitMine Immersion Technologies COGS-to-Revenue?

BitMine Immersion Technologies's Cost of Goods Sold for the three months ended in Feb. 2024 was $0.57 Mil. Its Revenue for the three months ended in Feb. 2024 was $0.89 Mil.

BitMine Immersion Technologies's COGS to Revenue for the three months ended in Feb. 2024 was 0.64.

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin. BitMine Immersion Technologies's Gross Margin % for the three months ended in Feb. 2024 was 36.32%.

BitMine Immersion Technologies COGS-to-Revenue Historical Data

The historical data trend for BitMine Immersion Technologies's COGS-to-Revenue 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.

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BitMine Immersion Technologies COGS-to-Revenue Chart

BitMine Immersion Technologies Annual Data

Trend

Aug22

Aug23

COGS-to-Revenue

1.30

0.66

BitMine Immersion Technologies Quarterly Data
	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
COGS-to-Revenue	Get a 7-Day Free Trial				0.61	0.51	0.56	0.80	0.64

BitMine Immersion Technologies COGS-to-Revenue Calculation

BitMine Immersion Technologies's COGS to Revenue for the fiscal year that ended in Aug. 2023 is calculated as

COGS to Revenue	=	Cost of Goods Sold	/	Revenue
	=	0.423	/	0.645
	=	0.66

BitMine Immersion Technologies's COGS to Revenue for the quarter that ended in Feb. 2024 is calculated as

COGS to Revenue	=	Cost of Goods Sold	/	Revenue
	=	0.568	/	0.892
	=	0.64

BitMine Immersion Technologies (OTCPK:BMNR) COGS-to-Revenue Explanation

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin.

BitMine Immersion Technologies's Gross Margin % for the three months ended in Feb. 2024 is calculated as:

Gross Margin %	=	1	-	COGS to Revenue
	=	1	-	Cost of Goods Sold / Revenue
	=	1	-	0.568 / 0.892
	=	36.32 %

A company that has a moat can usually maintain or even expand their Gross Margin. A company can increase its Gross Margin in two ways. It can increase the prices of the goods it sells and keeps its Cost of Goods Sold unchanged. Or it can keep the sales price unchanged and squeeze its suppliers to reduce the Cost of Goods Sold. Warren Buffett believes businesses with the power to raise prices have moats.

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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 » COGS-to-Revenue

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.