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Side-by-side financial comparison of BITMINE IMMERSION TECHNOLOGIES, INC. (BMNR) and Spero Therapeutics, Inc. (SPRO). Click either name above to swap in a different company.
Spero Therapeutics, Inc. is the larger business by last-quarter revenue ($12.6M vs $11.0M, roughly 1.1× BITMINE IMMERSION TECHNOLOGIES, INC.). Spero Therapeutics, Inc. runs the higher net margin — 250.7% vs -34583.9%, a 34834.6% gap on every dollar of revenue. On growth, Spero Therapeutics, Inc. posted the faster year-over-year revenue change (24080.8% vs 627.6%). Over the past eight quarters, Spero Therapeutics, Inc.'s revenue compounded faster (847.7% CAGR vs 251.9%).
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.
BMNR vs SPRO — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $11.0M | $12.6M |
| Net Profit | $-3.8B | $31.5M |
| Gross Margin | 87.1% | — |
| Operating Margin | -34784.7% | — |
| Net Margin | -34583.9% | 250.7% |
| Revenue YoY | 627.6% | 24080.8% |
| Net Profit YoY | -330212.5% | 250.9% |
| EPS (diluted) | $-8.40 | $0.56 |
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 | $12.6M | ||
| Q3 25 | — | $0 | ||
| Q2 25 | $2.1M | $0 | ||
| Q1 25 | $1.5M | $12.0K | ||
| Q4 24 | $1.2M | $52.0K | ||
| Q3 24 | $682.4K | $65.0K | ||
| Q2 24 | $1.2M | $114.0K |
| Q1 26 | $-3.8B | — | ||
| Q4 25 | $-5.2B | $31.5M | ||
| Q3 25 | — | $-7.4M | ||
| Q2 25 | $-622.8K | $-1.7M | ||
| Q1 25 | $-1.2M | $-13.9M | ||
| Q4 24 | $-974.0K | — | ||
| Q3 24 | — | $-17.1M | ||
| Q2 24 | $-654.2K | $-17.9M |
| 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% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -22.8% | — | ||
| Q1 25 | -60.2% | -122758.3% | ||
| Q4 24 | -73.6% | — | ||
| Q3 24 | — | -28604.6% | ||
| Q2 24 | -43.6% | -16720.2% |
| Q1 26 | -34583.9% | — | ||
| Q4 25 | -226955.7% | 250.7% | ||
| Q3 25 | — | — | ||
| Q2 25 | -30.4% | — | ||
| Q1 25 | -76.2% | -115550.0% | ||
| Q4 24 | -81.1% | — | ||
| Q3 24 | — | -26380.0% | ||
| Q2 24 | -53.4% | -15668.4% |
| Q1 26 | $-8.40 | — | ||
| Q4 25 | $-15.98 | $0.56 | ||
| Q3 25 | — | $-0.13 | ||
| Q2 25 | $-0.31 | $-0.03 | ||
| Q1 25 | $-0.58 | $-0.25 | ||
| Q4 24 | $-1.66 | — | ||
| Q3 24 | — | $-0.32 | ||
| Q2 24 | $-0.26 | $-0.33 |
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 | $40.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $9.9B | $59.0M |
| Total Assets | $9.9B | $68.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $879.6M | — | ||
| Q4 25 | $887.7M | $40.3M | ||
| Q3 25 | — | $48.6M | ||
| Q2 25 | $1.5M | $31.2M | ||
| Q1 25 | $483.0K | $48.9M | ||
| Q4 24 | $797.3K | $52.9M | ||
| Q3 24 | $499.0K | $76.3M | ||
| Q2 24 | — | $63.5M |
| Q1 26 | $9.9B | — | ||
| Q4 25 | $11.3B | $59.0M | ||
| Q3 25 | — | $26.5M | ||
| Q2 25 | $2.9M | $32.8M | ||
| Q1 25 | $2.9M | $33.8M | ||
| Q4 24 | $3.8M | $46.1M | ||
| Q3 24 | $4.1M | $65.5M | ||
| Q2 24 | $4.6M | $80.5M |
| Q1 26 | $9.9B | — | ||
| Q4 25 | $11.5B | $68.9M | ||
| Q3 25 | — | $54.2M | ||
| Q2 25 | $8.3M | $62.1M | ||
| Q1 25 | $7.5M | $77.7M | ||
| Q4 24 | $7.9M | $110.5M | ||
| Q3 24 | $7.3M | $135.2M | ||
| Q2 24 | $8.2M | $149.9M |
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 | $-8.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | -0.26× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-88.2M | — | ||
| Q4 25 | $-228.4M | $-8.4M | ||
| Q3 25 | — | $17.4M | ||
| Q2 25 | $1.7M | $-17.7M | ||
| Q1 25 | $-215.0K | $-4.0M | ||
| Q4 24 | $-96.0K | $-23.4M | ||
| Q3 24 | $-30.0K | $12.8M | ||
| Q2 24 | $-42.7K | $-18.7M |
| Q1 26 | — | — | ||
| Q4 25 | $-228.7M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-114.0K | — | ||
| Q3 24 | $-106.0K | — | ||
| Q2 24 | $-61.3K | — |
| Q1 26 | — | — | ||
| Q4 25 | -9975.2% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -9.5% | — | ||
| Q3 24 | -15.5% | — | ||
| Q2 24 | -5.0% | — |
| Q1 26 | 0.0% | — | ||
| Q4 25 | 16.4% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 11.1% | — | ||
| Q2 24 | 1.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.26× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
