Comprehensive Stock Comparison
Compare Bit Digital, Inc. (BTBT) vs Bitmine Immersion Technologies, Inc. (BMNR) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | BTBT | 264.6% revenue growth vs BMNR's 84.1% |
| Value | BMNR | Lower P/E (1.4x vs 139.2x) |
| Quality / Margins | BMNR | 57.2% net margin vs BTBT's 17.3% |
| Stability / Safety | BTBT | Beta 1.83 vs BMNR's 2.38 |
| Dividends | BTBT | 0.3% yield; BMNR pays no meaningful dividend |
| Momentum (1Y) | BMNR | +251.7% vs BTBT's -32.1% |
| Efficiency (ROA) | BTBT | 12.1% ROA vs BMNR's -42.3%, ROIC 6.5% vs 7.7% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Bit Digital is a bitcoin mining company that operates specialized computers to validate blockchain transactions and earn cryptocurrency rewards. It generates revenue primarily from bitcoin mining rewards (over 90% of revenue) and secondarily from treasury management of its bitcoin holdings. The company's competitive advantage lies in its strategic geographic diversification—with operations in North America and Asia—and access to low-cost renewable energy sources that improve mining profitability.
Bitmine Immersion Technologies operates as a blockchain infrastructure company that hosts cryptocurrency mining equipment for third parties and engages in self-mining for its own account. It generates revenue primarily from hosting fees paid by clients for mining equipment operation—including power, cooling, and security services—and from mining rewards earned through its own operations. The company's competitive advantage lies in its specialized data center infrastructure with proprietary thermodynamic management systems that optimize mining efficiency and reduce energy costs.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
BTBT leads in 3 of 6 categories (Financial Metrics, Total Returns). BMNR leads in 2 (Profitability & Efficiency, Analyst Outlook). 1 tied.
Financial Metrics (TTM)
BTBT is the larger business by revenue, generating $164M annually — 26.9x BMNR's $6M. BMNR is the more profitable business, keeping 57.2% of every revenue dollar as net income compared to BTBT's 17.3%.
| Metric | BTBTBit Digital, Inc. | BMNRBitmine Immersion… |
|---|---|---|
| RevenueTrailing 12 months | $164M | $6M |
| EBITDAEarnings before interest/tax | $166M | $224M |
| Net IncomeAfter-tax profit | $137M | -$4.9B |
| Free Cash FlowCash after capex | -$448M | -$234M |
| Gross MarginGross profit ÷ Revenue | +61.9% | +5.1% |
| Operating MarginEBIT ÷ Revenue | +16.8% | +72.9% |
| Net MarginNet income ÷ Revenue | +17.3% | +57.2% |
| FCF MarginFCF ÷ Revenue | -65.3% | -85.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +2.8% | -11051.7% |
Valuation Metrics
At 1.4x trailing earnings, BMNR trades at a 83% valuation discount to BTBT's 8.3x P/E. On an enterprise value basis, BTBT's 7.6x EV/EBITDA is more attractive than BMNR's 16.3x.
| Metric | BTBTBit Digital, Inc. | BMNRBitmine Immersion… |
|---|---|---|
| Market CapShares × price | $538M | $7.8B |
| Enterprise ValueMkt cap + debt − cash | $457M | $7.2B |
| Trailing P/EPrice ÷ TTM EPS | 8.35x | 1.42x |
| Forward P/EPrice ÷ next-FY EPS est. | 139.17x | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 7.63x | 16.28x |
| Price / SalesMarket cap ÷ Revenue | 3.29x | 1272.33x |
| Price / BookPrice ÷ Book value/share | 0.51x | 0.05x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
BTBT delivers a 13.1% return on equity — every $100 of shareholder capital generates $13 in annual profit, vs $-43 for BMNR. On the Piotroski fundamental quality scale (0–9), BTBT scores 6/9 vs BMNR's 4/9, reflecting solid financial health.
| Metric | BTBTBit Digital, Inc. | BMNRBitmine Immersion… |
|---|---|---|
| ROE (TTM)Return on equity | +13.1% | -43.1% |
| ROA (TTM)Return on assets | +12.1% | -42.3% |
| ROICReturn on invested capital | +6.5% | +7.7% |
| ROCEReturn on capital employed | +8.5% | +10.1% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 4 |
| Debt / EquityFinancial leverage | 0.03x | — |
| Net DebtTotal debt minus cash | -$81M | -$512M |
| Cash & Equiv.Liquid assets | $95M | $512M |
| Total DebtShort + long-term debt | $14M | $0 |
| Interest CoverageEBIT ÷ Interest expense | — | -12890.65x |
Total Returns (with DRIP)
A $10,000 investment in BTBT five years ago would be worth $1,009 today (with dividends reinvested), compared to $601 for BMNR. Over the past 12 months, BMNR leads with a +251.7% total return vs BTBT's -32.1%. The 3-year compound annual growth rate (CAGR) favors BTBT at 9.8% vs BMNR's -1.7% — a key indicator of consistent wealth creation.
| Metric | BTBTBit Digital, Inc. | BMNRBitmine Immersion… |
|---|---|---|
| YTD ReturnYear-to-date | -18.1% | -39.1% |
| 1-Year ReturnPast 12 months | -32.1% | +251.7% |
| 3-Year ReturnCumulative with dividends | +32.5% | -5.0% |
| 5-Year ReturnCumulative with dividends | -89.9% | -94.0% |
| 10-Year ReturnCumulative with dividends | -63.9% | -50.5% |
| CAGR (3Y)Annualised 3-year return | +9.8% | -1.7% |
Risk & Volatility
BTBT is the less volatile stock with a 1.83 beta — it tends to amplify market swings less than BMNR's 2.38 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. BTBT currently trades 36.7% from its 52-week high vs BMNR's 11.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | BTBTBit Digital, Inc. | BMNRBitmine Immersion… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.83x | 2.38x |
| 52-Week HighHighest price in past year | $4.55 | $161.00 |
| 52-Week LowLowest price in past year | $1.49 | $3.92 |
| % of 52W HighCurrent price vs 52-week peak | +36.7% | +11.8% |
| RSI (14)Momentum oscillator 0–100 | 46.2 | 41.9 |
| Avg Volume (50D)Average daily shares traded | 25.6M | 36.1M |
Analyst Outlook
Wall Street rates BTBT as "Buy" and BMNR as "Buy". Consensus price targets imply 199.4% upside for BTBT (target: $5) vs 105.5% for BMNR (target: $39). BTBT is the only dividend payer here at 0.34% yield — a key consideration for income-focused portfolios.
| Metric | BTBTBit Digital, Inc. | BMNRBitmine Immersion… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $5.00 | $39.00 |
| # AnalystsCovering analysts | 1 | 1 |
| Dividend YieldAnnual dividend ÷ price | +0.3% | — |
| Dividend StreakConsecutive years of raises | 0 | 1 |
| Dividend / ShareAnnual DPS | $0.01 | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Apr 20 | Feb 26 | Change |
|---|---|---|---|
| Bit Digital, Inc. (BTBT) | 100 | 405.86 | +305.9% |
| Bitmine Immersion T… (BMNR) | 60.81 | 77.03 | +26.7% |
Bit Digital, Inc. (BTBT) returned -90% over 5 years vs Bitmine Immersion T… (BMNR)'s -94%.
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Bit Digital, Inc. (BTBT) | $4M | $164M | +4319.1% |
| Bitmine Immersion T… (BMNR) | $0.00 | $6M | — |
Chart 3Net Margin Trend — 10 Years
| Stock | 2012 | 2025 | Change |
|---|---|---|---|
| Bit Digital, Inc. (BTBT) | 4.3% | 17.3% | +298.1% |
| Bitmine Immersion T… (BMNR) | 0.1% | 57.2% | +84878.7% |
Bitmine Immersion Technologies, Inc.'s net margin went from 0% (2012) to 57% (2025).
Chart 4EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Bit Digital, Inc. (BTBT) | 0.01 | 0.2 | +1701.8% |
| Bitmine Immersion T… (BMNR) | -0 | 13.39 | +1673850.0% |
Chart 5Free Cash Flow — 5 Years
Bit Digital, Inc. generated $-107M FCF in 2024 (-53% vs 2021). Bitmine Immersion Technologies, Inc. generated $-5M FCF in 2025 (-935% vs 2021).
BTBT vs BMNR: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is BTBT or BMNR a better buy right now?
Bitmine Immersion Technologies, Inc. (BMNR) offers the better valuation at 1.4x trailing P/E, making it the more compelling value choice. Analysts rate Bit Digital, Inc. (BTBT) a "Buy" — based on 1 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — BTBT or BMNR?
On trailing P/E, Bitmine Immersion Technologies, Inc. (BMNR) is the cheapest at 1.4x versus Bit Digital, Inc. at 8.3x.
03Which is the better long-term investment — BTBT or BMNR?
Over the past 5 years, Bit Digital, Inc. (BTBT) delivered a total return of -89.9%, compared to -94.0% for Bitmine Immersion Technologies, Inc. (BMNR). A $10,000 investment in BTBT five years ago would be worth approximately $1K today (assuming dividends reinvested). Over 10 years, the gap is even starker: BMNR returned -50.5% versus BTBT's -63.9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — BTBT or BMNR?
By beta (market sensitivity over 5 years), Bit Digital, Inc. (BTBT) is the lower-risk stock at 1.83β versus Bitmine Immersion Technologies, Inc.'s 2.38β — meaning BMNR is approximately 30% more volatile than BTBT relative to the S&P 500.
05Which has better profit margins — BTBT or BMNR?
Bitmine Immersion Technologies, Inc. (BMNR) is the more profitable company, earning 57.2% net margin versus 17.3% for Bit Digital, Inc. — meaning it keeps 57.2% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BMNR leads at 72.9% versus 16.8% for BTBT. At the gross margin level — before operating expenses — BTBT leads at 61.9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is BTBT or BMNR more undervalued right now?
Analyst consensus price targets imply the most upside for BTBT: 199.4% to $5.00.
07Which pays a better dividend — BTBT or BMNR?
In this comparison, BTBT (0.3% yield) pays a dividend. BMNR does not pay a meaningful dividend and should not be held primarily for income.
08Is BTBT or BMNR better for a retirement portfolio?
For long-horizon retirement investors, Bit Digital, Inc. (BTBT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding. Bitmine Immersion Technologies, Inc. (BMNR) carries a higher beta of 2.38 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (BTBT: -63.9%, BMNR: -50.5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between BTBT and BMNR?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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