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Side-by-side financial comparison of BITMINE IMMERSION TECHNOLOGIES, INC. (BMNR) and Defi Technologies, Inc. (DEFT). Click either name above to swap in a different company.
Defi Technologies, Inc. is the larger business by last-quarter revenue ($51.3M vs $2.3M, roughly 22.4× BITMINE IMMERSION TECHNOLOGIES, INC.).
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.
Defi Technologies Inc. is a specialized fintech enterprise focused on the decentralized finance (DeFi) and Web3 space. It provides institutional and retail clients access to digital asset investment opportunities, develops blockchain infrastructure solutions, and manages portfolios of DeFi-related assets and early-stage Web3 startup stakes, serving markets across North America, Europe, and Asia Pacific.
BMNR vs DEFT — Head-to-Head
Income Statement — Q1 2026 vs Q3 2025
| Metric | | |
|---|---|---|
| Revenue | $2.3M | $51.3M |
| Net Profit | $-5.2B | — |
| Gross Margin | 55.3% | — |
| Operating Margin | -238564.8% | -3.1% |
| Net Margin | -226955.7% | — |
| Revenue YoY | 90.9% | — |
| Net Profit YoY | -533796.8% | — |
| EPS (diluted) | $-15.98 | $-0.01 |
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.
| Q4 25 | $2.3M | — | ||
| Q3 25 | — | $21.8M |
| Q4 25 | $-5.2B | — | ||
| Q3 25 | — | — |
| Q4 25 | 55.3% | — | ||
| Q3 25 | — | — |
| Q4 25 | -238564.8% | — | ||
| Q3 25 | — | — |
| Q4 25 | -226955.7% | — | ||
| Q3 25 | — | — |
| Q4 25 | $-15.98 | — | ||
| Q3 25 | — | $0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $887.7M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $11.3B | — |
| Total Assets | $11.5B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $887.7M | — | ||
| Q3 25 | — | — |
| Q4 25 | $11.3B | — | ||
| Q3 25 | — | — |
| Q4 25 | $11.5B | — | ||
| Q3 25 | — | — |
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 | $-228.4M | $-17.9M |
| Free Cash FlowOCF − Capex | $-228.7M | — |
| FCF MarginFCF / Revenue | -9975.2% | — |
| Capex IntensityCapex / Revenue | 16.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-228.4M | — | ||
| Q3 25 | — | $-27.1M |
| Q4 25 | $-228.7M | — | ||
| Q3 25 | — | — |
| Q4 25 | -9975.2% | — | ||
| Q3 25 | — | — |
| Q4 25 | 16.4% | — | ||
| Q3 25 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BMNR
Segment breakdown not available.
DEFT
| Revenues from realized and net change in unrealized gains (losses) | $29.3M | 57% |
| Staking and lending income | $16.8M | 33% |
| Management fees | $4.4M | 9% |
| Research revenue | $813.8K | 2% |
