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Side-by-side financial comparison of BITMINE IMMERSION TECHNOLOGIES, INC. (BMNR) and Perella Weinberg Partners (PWP). Click either name above to swap in a different company.
Perella Weinberg Partners is the larger business by last-quarter revenue ($219.2M vs $11.0M, roughly 19.8× BITMINE IMMERSION TECHNOLOGIES, INC.). Perella Weinberg Partners runs the higher net margin — 6.3% vs -34583.9%, a 34590.2% gap on every dollar of revenue. On growth, BITMINE IMMERSION TECHNOLOGIES, INC. posted the faster year-over-year revenue change (627.6% vs -2.9%). Over the past eight quarters, BITMINE IMMERSION TECHNOLOGIES, INC.'s revenue compounded faster (251.9% CAGR vs 46.5%).
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.
PJT Partners, Inc. is a global advisory-focused investment bank, founded in October 2015 as part of The Blackstone Group's spin-off of its financial and strategic advisory services businesses.
BMNR vs PWP — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $11.0M | $219.2M |
| Net Profit | $-3.8B | $13.8M |
| Gross Margin | 87.1% | — |
| Operating Margin | -34784.7% | 8.5% |
| Net Margin | -34583.9% | 6.3% |
| Revenue YoY | 627.6% | -2.9% |
| Net Profit YoY | -330212.5% | — |
| EPS (diluted) | $-8.40 | $0.11 |
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 | $219.2M | ||
| Q3 25 | — | $164.6M | ||
| Q2 25 | $2.1M | $155.3M | ||
| Q1 25 | $1.5M | $211.8M | ||
| Q4 24 | $1.2M | $225.7M | ||
| Q3 24 | $682.4K | $278.2M | ||
| Q2 24 | $1.2M | $272.0M |
| Q1 26 | $-3.8B | — | ||
| Q4 25 | $-5.2B | $13.8M | ||
| Q3 25 | — | $6.0M | ||
| Q2 25 | $-622.8K | $2.7M | ||
| Q1 25 | $-1.2M | $17.3M | ||
| Q4 24 | $-974.0K | — | ||
| Q3 24 | — | $16.4M | ||
| Q2 24 | $-654.2K | $-66.0M |
| 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% | 8.5% | ||
| Q3 25 | — | 5.4% | ||
| Q2 25 | -22.8% | 5.8% | ||
| Q1 25 | -60.2% | 5.5% | ||
| Q4 24 | -73.6% | — | ||
| Q3 24 | — | 12.9% | ||
| Q2 24 | -43.6% | -30.2% |
| Q1 26 | -34583.9% | — | ||
| Q4 25 | -226955.7% | 6.3% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | -30.4% | 1.8% | ||
| Q1 25 | -76.2% | 8.2% | ||
| Q4 24 | -81.1% | — | ||
| Q3 24 | — | 5.9% | ||
| Q2 24 | -53.4% | -24.3% |
| Q1 26 | $-8.40 | — | ||
| Q4 25 | $-15.98 | $0.11 | ||
| Q3 25 | — | $0.08 | ||
| Q2 25 | $-0.31 | $0.04 | ||
| Q1 25 | $-0.58 | $0.24 | ||
| Q4 24 | $-1.66 | — | ||
| Q3 24 | — | $0.24 | ||
| Q2 24 | $-0.26 | $-1.21 |
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 | $255.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $9.9B | $-127.4M |
| Total Assets | $9.9B | $797.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $879.6M | — | ||
| Q4 25 | $887.7M | $255.9M | ||
| Q3 25 | — | $185.5M | ||
| Q2 25 | $1.5M | $145.0M | ||
| Q1 25 | $483.0K | $111.2M | ||
| Q4 24 | $797.3K | $407.4M | ||
| Q3 24 | $499.0K | $335.1M | ||
| Q2 24 | — | $185.3M |
| Q1 26 | $9.9B | — | ||
| Q4 25 | $11.3B | $-127.4M | ||
| Q3 25 | — | $-302.4M | ||
| Q2 25 | $2.9M | $-318.4M | ||
| Q1 25 | $2.9M | $-323.1M | ||
| Q4 24 | $3.8M | $-421.4M | ||
| Q3 24 | $4.1M | $-360.8M | ||
| Q2 24 | $4.6M | $-283.0M |
| Q1 26 | $9.9B | — | ||
| Q4 25 | $11.5B | $797.6M | ||
| Q3 25 | — | $650.2M | ||
| Q2 25 | $8.3M | $606.7M | ||
| Q1 25 | $7.5M | $570.5M | ||
| Q4 24 | $7.9M | $876.8M | ||
| Q3 24 | $7.3M | $810.9M | ||
| Q2 24 | $8.2M | $645.5M |
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 | $34.8M |
| Free Cash FlowOCF − Capex | — | $30.5M |
| FCF MarginFCF / Revenue | — | 13.9% |
| Capex IntensityCapex / Revenue | 0.0% | 2.0% |
| Cash ConversionOCF / Net Profit | — | 2.52× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-34.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-88.2M | — | ||
| Q4 25 | $-228.4M | $34.8M | ||
| Q3 25 | — | $59.2M | ||
| Q2 25 | $1.7M | $56.1M | ||
| Q1 25 | $-215.0K | $-176.5M | ||
| Q4 24 | $-96.0K | $223.4M | ||
| Q3 24 | $-30.0K | $200.3M | ||
| Q2 24 | $-42.7K | $90.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-228.7M | $30.5M | ||
| Q3 25 | — | $57.6M | ||
| Q2 25 | — | $55.3M | ||
| Q1 25 | — | $-177.6M | ||
| Q4 24 | $-114.0K | $207.0M | ||
| Q3 24 | $-106.0K | $199.3M | ||
| Q2 24 | $-61.3K | $83.7M |
| Q1 26 | — | — | ||
| Q4 25 | -9975.2% | 13.9% | ||
| Q3 25 | — | 35.0% | ||
| Q2 25 | — | 35.6% | ||
| Q1 25 | — | -83.8% | ||
| Q4 24 | -9.5% | 91.7% | ||
| Q3 24 | -15.5% | 71.6% | ||
| Q2 24 | -5.0% | 30.8% |
| Q1 26 | 0.0% | — | ||
| Q4 25 | 16.4% | 2.0% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | 0.0% | 0.5% | ||
| Q1 25 | 0.0% | 0.5% | ||
| Q4 24 | 1.5% | 7.3% | ||
| Q3 24 | 11.1% | 0.4% | ||
| Q2 24 | 1.5% | 2.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.52× | ||
| Q3 25 | — | 9.85× | ||
| Q2 25 | — | 20.50× | ||
| Q1 25 | — | -10.18× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 12.23× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
