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Side-by-side financial comparison of BITMINE IMMERSION TECHNOLOGIES, INC. (BMNR) and Burford Capital Ltd (BUR). Click either name above to swap in a different company.
Burford Capital Ltd is the larger business by last-quarter revenue ($33.4M vs $11.0M, roughly 3.0× BITMINE IMMERSION TECHNOLOGIES, INC.). Burford Capital Ltd runs the higher net margin — -112.2% vs -34583.9%, a 34471.7% gap on every dollar of revenue.
Bitmine Immersion Technologies is a tech firm focused on developing and providing professional immersion cooling solutions for high-performance computing scenarios, including cryptocurrency mining rig clusters and data center infrastructure. Its products boost hardware operating efficiency, cut energy consumption for heat control, extend high-power computing equipment lifespan, and help clients reduce long-term operational costs.
Burford Capital is a financial services company that provides specialized finance to the legal market. Founded in 2009, it offers financing to corporate legal departments and law firms engaged in litigation and arbitration, asset recovery and other legal finance and advisory activities. It operates internationally with headquarters in Guernsey.
BMNR vs BUR — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $11.0M | $33.4M |
| Net Profit | $-3.8B | $-37.5M |
| Gross Margin | 87.1% | — |
| Operating Margin | -34784.7% | -37.9% |
| Net Margin | -34583.9% | -112.2% |
| Revenue YoY | 627.6% | — |
| Net Profit YoY | -330212.5% | — |
| EPS (diluted) | $-8.40 | $-0.16 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $11.0M | — | ||
| Q4 25 | $2.3M | $33.4M | ||
| Q3 25 | — | $69.8M | ||
| Q2 25 | $2.1M | $191.3M | ||
| Q1 25 | $1.5M | $118.9M | ||
| Q4 24 | $1.2M | — | ||
| Q3 24 | $682.4K | $159.7M | ||
| Q2 24 | $1.2M | $44.3M |
| Q1 26 | $-3.8B | — | ||
| Q4 25 | $-5.2B | $-37.5M | ||
| Q3 25 | — | $-19.2M | ||
| Q2 25 | $-622.8K | $88.3M | ||
| Q1 25 | $-1.2M | $30.9M | ||
| Q4 24 | $-974.0K | — | ||
| Q3 24 | — | $53.7M | ||
| Q2 24 | $-654.2K | $-29.9M |
| Q1 26 | 87.1% | — | ||
| Q4 25 | 55.3% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 23.9% | — | ||
| Q1 25 | 20.1% | — | ||
| Q4 24 | 10.0% | — | ||
| Q3 24 | 16.4% | — | ||
| Q2 24 | 18.1% | — |
| Q1 26 | -34784.7% | — | ||
| Q4 25 | -238564.8% | -37.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | -22.8% | 74.3% | ||
| Q1 25 | -60.2% | 65.4% | ||
| Q4 24 | -73.6% | — | ||
| Q3 24 | — | 76.1% | ||
| Q2 24 | -43.6% | 32.0% |
| Q1 26 | -34583.9% | — | ||
| Q4 25 | -226955.7% | -112.2% | ||
| Q3 25 | — | -27.4% | ||
| Q2 25 | -30.4% | 46.2% | ||
| Q1 25 | -76.2% | 26.0% | ||
| Q4 24 | -81.1% | — | ||
| Q3 24 | — | 33.7% | ||
| Q2 24 | -53.4% | -67.6% |
| Q1 26 | $-8.40 | — | ||
| Q4 25 | $-15.98 | $-0.16 | ||
| Q3 25 | — | $-0.09 | ||
| Q2 25 | $-0.31 | $0.39 | ||
| Q1 25 | $-0.58 | $0.14 | ||
| Q4 24 | $-1.66 | — | ||
| Q3 24 | — | $0.24 | ||
| Q2 24 | $-0.26 | $-0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $879.6M | $943.5M |
| Total DebtLower is stronger | — | $2.1B |
| Stockholders' EquityBook value | $9.9B | $2.4B |
| Total Assets | $9.9B | $6.6B |
| Debt / EquityLower = less leverage | — | 0.87× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $879.6M | — | ||
| Q4 25 | $887.7M | $943.5M | ||
| Q3 25 | — | $677.7M | ||
| Q2 25 | $1.5M | $372.2M | ||
| Q1 25 | $483.0K | $486.6M | ||
| Q4 24 | $797.3K | — | ||
| Q3 24 | $499.0K | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $9.9B | — | ||
| Q4 25 | $11.3B | $2.4B | ||
| Q3 25 | — | $2.5B | ||
| Q2 25 | $2.9M | $2.5B | ||
| Q1 25 | $2.9M | $2.4B | ||
| Q4 24 | $3.8M | — | ||
| Q3 24 | $4.1M | $3.2B | ||
| Q2 24 | $4.6M | $3.1B |
| Q1 26 | $9.9B | — | ||
| Q4 25 | $11.5B | $6.6B | ||
| Q3 25 | — | $6.7B | ||
| Q2 25 | $8.3M | $6.3B | ||
| Q1 25 | $7.5M | $6.2B | ||
| Q4 24 | $7.9M | — | ||
| Q3 24 | $7.3M | — | ||
| Q2 24 | $8.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.87× | ||
| Q3 25 | — | 0.86× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.72× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-88.2M | $-29.0M |
| Free Cash FlowOCF − Capex | — | $-29.3M |
| FCF MarginFCF / Revenue | — | -87.7% |
| Capex IntensityCapex / Revenue | 0.0% | 0.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $21.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-88.2M | — | ||
| Q4 25 | $-228.4M | $-29.0M | ||
| Q3 25 | — | $-20.1M | ||
| Q2 25 | $1.7M | $-84.2M | ||
| Q1 25 | $-215.0K | $155.2M | ||
| Q4 24 | $-96.0K | — | ||
| Q3 24 | $-30.0K | $-97.4M | ||
| Q2 24 | $-42.7K | $53.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-228.7M | $-29.3M | ||
| Q3 25 | — | $-20.1M | ||
| Q2 25 | — | $-84.3M | ||
| Q1 25 | — | $155.1M | ||
| Q4 24 | $-114.0K | — | ||
| Q3 24 | $-106.0K | $-97.4M | ||
| Q2 24 | $-61.3K | $52.9M |
| Q1 26 | — | — | ||
| Q4 25 | -9975.2% | -87.7% | ||
| Q3 25 | — | -28.8% | ||
| Q2 25 | — | -44.1% | ||
| Q1 25 | — | 130.5% | ||
| Q4 24 | -9.5% | — | ||
| Q3 24 | -15.5% | -61.0% | ||
| Q2 24 | -5.0% | 119.5% |
| Q1 26 | 0.0% | — | ||
| Q4 25 | 16.4% | 0.8% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | 0.0% | 0.1% | ||
| Q1 25 | 0.0% | 0.0% | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 11.1% | 0.0% | ||
| Q2 24 | 1.5% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.95× | ||
| Q1 25 | — | 5.02× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -1.81× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BMNR
Segment breakdown not available.
BUR
| Principal Finance Segment | $29.1M | 87% |
| Other | $3.5M | 10% |
| Management Fee Income | $878.0K | 3% |
