BitMine Immersion Technologies (BitMine Immersion Technologies) ROCE % : -60.05% (As of Feb. 2024)

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What is BitMine Immersion Technologies ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. BitMine Immersion Technologies's annualized ROCE % for the quarter that ended in Feb. 2024 was -60.05%.

BitMine Immersion Technologies ROCE % Historical Data

The historical data trend for BitMine Immersion Technologies's ROCE % 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 ROCE % Chart

BitMine Immersion Technologies Annual Data

Trend

Aug22

Aug23

ROCE %

-22.39

-33.10

BitMine Immersion Technologies Quarterly Data
	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
ROCE %	Get a 7-Day Free Trial				-15.86	-27.99	-65.93	-52.63	-60.05

BitMine Immersion Technologies ROCE % Calculation

BitMine Immersion Technologies's annualized ROCE % for the fiscal year that ended in Aug. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Aug. 2023 )		(A: Aug. 2022 )		(A: Aug. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Aug. 2023 )		(A: Aug. 2022 )		(A: Aug. 2023 )
	=	-2.367	/	( ( (7.974 - 0.318)	+	(8.203 - 1.559) )	/ 2 )
	=	-2.367	/	( (7.656	+	6.644)	/ 2 )
	=	-2.367	/	7.15
	=	-33.10 %

BitMine Immersion Technologies's ROCE % of for the quarter that ended in Feb. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Feb. 2024 )		(Q: Nov. 2023 )		(Q: Feb. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Feb. 2024 )		(Q: Nov. 2023 )		(Q: Feb. 2024 )
	=	-3.392	/	( ( (8.58 - 2.608)	+	(7.85 - 2.524) )	/ 2 )
	=	-3.392	/	( ( 5.972	+	5.326 )	/ 2 )
	=	-3.392	/	5.649
	=	-60.05 %

(1) Note: The EBIT data used here is four times the quarterly (Feb. 2024) EBIT data.

BitMine Immersion Technologies (OTCPK:BMNR) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

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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 » ROCE %

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Traded in Other Exchanges

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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.