BitMine Immersion Technologies (BitMine Immersion Technologies) Gross Margin % : 36.32% (As of Feb. 2024)

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What is BitMine Immersion Technologies Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. BitMine Immersion Technologies's Gross Profit for the three months ended in Feb. 2024 was $0.32 Mil. BitMine Immersion Technologies's Revenue for the three months ended in Feb. 2024 was $0.89 Mil. Therefore, BitMine Immersion Technologies's Gross Margin % for the quarter that ended in Feb. 2024 was 36.32%.

The historical rank and industry rank for BitMine Immersion Technologies's Gross Margin % or its related term are showing as below:

BMNR' s Gross Margin % Range Over the Past 10 Years
Min: -30.14 Med: 2.14 Max: 34.42
Current: 33.91

During the past 2 years, the highest Gross Margin % of BitMine Immersion Technologies was 34.42%. The lowest was -30.14%. And the median was 2.14%.

BMNR's Gross Margin % is ranked worse than
62.93% of 607 companies
in the Capital Markets industry
Industry Median: 48.61 vs BMNR: 33.91

BitMine Immersion Technologies had a gross margin of 36.32% for the quarter that ended in Feb. 2024 => Competition eroding margins

The 5-Year average Growth Rate of Gross Margin for BitMine Immersion Technologies was 0.00% per year.

BitMine Immersion Technologies Gross Margin % Historical Data

The historical data trend for BitMine Immersion Technologies's Gross Margin % 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.

* Premium members only.

BitMine Immersion Technologies Gross Margin % Chart

BitMine Immersion Technologies Annual Data

Trend

Aug22

Aug23

Gross Margin %

-30.14

34.42

BitMine Immersion Technologies Quarterly Data
	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
Gross Margin %	Get a 7-Day Free Trial				39.10	49.30	44.49	20.35	36.32

Competitive Comparison of BitMine Immersion Technologies's Gross Margin %

For the Capital Markets subindustry, BitMine Immersion Technologies's Gross Margin %, along with its competitors' market caps and Gross Margin % 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 Gross Margin % Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, BitMine Immersion Technologies's Gross Margin % distribution charts can be found below:

* The bar in red indicates where BitMine Immersion Technologies's Gross Margin % falls into.

BitMine Immersion Technologies Gross Margin % Calculation

Gross Margin is the percentage of Gross Profit out of sales or Revenue.

BitMine Immersion Technologies's Gross Margin for the fiscal year that ended in Aug. 2023 is calculated as

Gross Margin % (A: Aug. 2023 )	=	Gross Profit (A: Aug. 2023 )	/	Revenue (A: Aug. 2023 )
	=	0.2	/	0.645
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(0.645 - 0.423)	/	0.645
	=	34.42 %

BitMine Immersion Technologies's Gross Margin for the quarter that ended in Feb. 2024 is calculated as

Gross Margin % (Q: Feb. 2024 )	=	Gross Profit (Q: Feb. 2024 )	/	Revenue (Q: Feb. 2024 )
	=	0.3	/	0.892
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(0.892 - 0.568)	/	0.892
	=	36.32 %

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.

BitMine Immersion Technologies (OTCPK:BMNR) Gross Margin % Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

BitMine Immersion Technologies had a gross margin of 36.32% for the quarter that ended in Feb. 2024 => Competition eroding margins

Be Aware

If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.

BitMine Immersion Technologies Gross Margin % 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 » Gross Margin %

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.