BMNR vs. HBM

Last updated Jun 13, 2026

BMNR (BitMine Immersion Technologies, Inc.) and HBM (Hudbay Minerals Inc.) are both stocks. BMNR operates in Capital Markets (Financial Services), while HBM operates in Copper (Basic Materials). Over the past year, BMNR returned 224.89% vs 187.44% for HBM. At a 0.31 correlation, their price movements are largely independent.

Performance

BMNR vs. HBM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BitMine Immersion Technologies, Inc. (BMNR) and Hudbay Minerals Inc. (HBM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BMNR achieves a -40.66% return, which is significantly lower than HBM's 40.23% return.

BMNR

• 1D: -2.48%
• 1M: -26.77%
• YTD: -40.66%
• 6M: -53.79%
• 1Y: 224.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HBM

• 1D: 4.43%
• 1M: 1.97%
• YTD: 40.23%
• 6M: 49.02%
• 1Y: 187.44%
• 3Y*: 78.89%
• 5Y*: 31.42%
• 10Y*: 19.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BMNR vs. HBM - Yearly Performance Comparison

	2026 (YTD)	2025
BMNR BitMine Immersion Technologies, Inc.	-40.66%	274.59%
HBM Hudbay Minerals Inc.	40.23%	111.97%

Correlation

The correlation between BMNR and HBM is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.31

Fundamentals

Market Cap BMNR : $7.32T HBM : $11.09B
EPS BMNR : -$0.06 HBM : $1.65
PS Ratio BMNR : 146.26K HBM : 4.68
PB Ratio BMNR : 742.94 HBM : 3.13
Total Revenue (TTM) BMNR : $16.71M HBM : $2.37B
Gross Profit (TTM) BMNR : $1.15M HBM : $828.54M
EBITDA (TTM) BMNR : -$3.62B HBM : $1.54B

Return for Risk

BMNR vs. HBM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BMNR

BMNR Risk / Return Rank: 79
BMNR Sharpe Ratio Rank: 52
BMNR Sortino Ratio Rank: 99
BMNR Omega Ratio Rank: 99
BMNR Calmar Ratio Rank: 77
BMNR Martin Ratio Rank: 66

HBM

HBM Risk / Return Rank: 93
HBM Sharpe Ratio Rank: 96
HBM Sortino Ratio Rank: 92
HBM Omega Ratio Rank: 91
HBM Calmar Ratio Rank: 93
HBM Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BMNR vs. HBM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BitMine Immersion Technologies, Inc. (BMNR) and Hudbay Minerals Inc. (HBM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BMNR	HBM	Difference
Sharpe ratio: Return per unit of total volatility	0.26	3.23	-2.97
Sortino ratio: Return per unit of downside risk	8.22	3.26	+4.97
Omega ratio: Gain probability vs. loss probability	1.97	1.44	+0.54
Calmar ratio: Return relative to maximum drawdown	2.13	5.28	-3.15
Martin ratio: Return relative to average drawdown	2.56	16.41	-13.84

BMNR vs. HBM - Sharpe Ratio Comparison

The current BMNR Sharpe Ratio is 0.26, which is lower than the HBM Sharpe Ratio of 3.23. The chart below compares the historical Sharpe Ratios of BMNR and HBM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BMNR vs. HBM - Drawdown Comparison

The maximum BMNR drawdown since its inception was -88.41%, roughly equal to the maximum HBM drawdown of -92.21%. Use the drawdown chart below to compare losses from any high point for BMNR and HBM.

Drawdown Indicators

	BMNR	HBM	Difference
Max Drawdown Largest peak-to-trough decline	-88.41%	-92.21%	+3.80%
Max Drawdown (1Y) Largest decline over 1 year	-88.41%	-36.16%	-52.25%
Max Drawdown (3Y) Largest decline over 3 years	—	-41.11%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-63.33%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-86.34%	—
Current Drawdown Current decline from peak	-88.06%	-12.68%	-75.38%
Average Drawdown Average peak-to-trough decline	-70.84%	-52.45%	-18.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	73.42%	11.62%	+61.80%

Volatility

BMNR vs. HBM - Volatility Comparison

The current volatility for BitMine Immersion Technologies, Inc. (BMNR) is 22.82%, while Hudbay Minerals Inc. (HBM) has a volatility of 25.87%. This indicates that BMNR experiences smaller price fluctuations and is considered to be less risky than HBM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BMNR	HBM	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.82%	25.87%	-3.05%
Volatility (6M) Calculated over the trailing 6-month period	60.99%	47.72%	+13.27%
Volatility (1Y) Calculated over the trailing 1-year period	717.57%	59.13%	+658.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	710.73%	55.51%	+655.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	710.73%	58.82%	+651.91%

Dividends

BMNR vs. HBM - Dividend Comparison

BMNR's dividend yield for the trailing twelve months is around 0.06%, less than HBM's 0.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BMNR BitMine Immersion Technologies, Inc.	0.06%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HBM Hudbay Minerals Inc.	0.08%	0.07%	0.17%	0.31%	0.32%	0.22%	0.21%	0.36%	0.38%	0.23%	0.35%	0.52%

Financials

Frequently Asked Questions

Can I hold both BMNR and HBM in my portfolio?

BMNR and HBM have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BMNR or HBM?

HBM has higher volatility (25.87%) compared to BMNR (22.82%). In terms of maximum drawdown, BMNR dropped -88.41% vs HBM's -92.21%.

Which has better risk-adjusted returns?

HBM currently has the higher Sharpe Ratio (3.23 vs 0.26), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.