BitMine Immersion Technologies (BitMine Immersion Technologies) Effective Interest Rate on Debt % : 11.55% (As of Feb. 2024)

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What is BitMine Immersion Technologies Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. BitMine Immersion Technologies's annualized positive value of Interest Expense for the quarter that ended in Feb. 2024 was $0.22 Mil. BitMine Immersion Technologies's average total debt for the quarter that ended in Feb. 2024 was $1.87 Mil. Therefore, BitMine Immersion Technologies's annualized Effective Interest Rate on Debt % for the quarter that ended in Feb. 2024 was 11.55%.

BitMine Immersion Technologies Effective Interest Rate on Debt % Historical Data

The historical data trend for BitMine Immersion Technologies's Effective Interest Rate on 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.

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BitMine Immersion Technologies Effective Interest Rate on Debt % Chart

BitMine Immersion Technologies Annual Data

Trend

Aug22

Aug23

Effective Interest Rate on Debt %

7.46

BitMine Immersion Technologies Quarterly Data
	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial				11.00	11.05	12.92	23.86	11.55

Competitive Comparison of BitMine Immersion Technologies's Effective Interest Rate on Debt %

For the Capital Markets subindustry, BitMine Immersion Technologies's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on 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 Effective Interest Rate on Debt % Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, BitMine Immersion Technologies's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where BitMine Immersion Technologies's Effective Interest Rate on Debt % falls into.

BitMine Immersion Technologies Effective Interest Rate on Debt % Calculation

BitMine Immersion Technologies's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Aug. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Aug. 2022 )	+	Total Debt (A: Aug. 2023 ))	/ count )
=	-1 * -0.097	/	( (0	+	1.3)	/ 1 )
=	-1 * -0.097	/	1.3
=	7.46 %

where

	Total Debt (A: Aug. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	0
=	0

	Total Debt (A: Aug. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	1.3
=	1.3

BitMine Immersion Technologies's annualized Effective Interest Rate on Debt % for the quarter that ended in Feb. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Nov. 2023 )	+	Total Debt (Q: Feb. 2024 ))	/ count )
=	-1 * -0.216	/	( (2.02	+	1.719)	/ 2 )
=	-1 * -0.216	/	1.8695
=	11.55 %

where

	Total Debt (Q: Nov. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	2.02
=	2.02

	Total Debt (Q: Feb. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	1.719
=	1.719

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Feb. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

BitMine Immersion Technologies (OTCPK:BMNR) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

BitMine Immersion Technologies Effective Interest Rate on 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 » Effective Interest Rate on 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.