BMNR vs. MSTR

Last updated Jun 4, 2026

BMNR (Bitmine Immersion Technologies Inc) and MSTR (Strategy Inc) are both stocks. BMNR operates in Capital Markets (Financial Services), while MSTR operates in Software - Application (Technology). A 0.65 correlation means they provide meaningful diversification when combined.

Performance

BMNR vs. MSTR - Performance Comparison

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

Returns By Period

In the year-to-date period, BMNR achieves a -37.75% return, which is significantly lower than MSTR's -16.72% return.

BMNR

• 1D: -5.95%
• 1M: -25.84%
• YTD: -37.75%
• 6M: -49.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTR

• 1D: -7.01%
• 1M: -31.15%
• YTD: -16.72%
• 6M: -32.83%
• 1Y: -67.34%
• 3Y*: 61.19%
• 5Y*: 21.16%
• 10Y*: 20.96%

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

BMNR vs. MSTR - Yearly Performance Comparison

	2026 (YTD)	2025
BMNR Bitmine Immersion Technologies Inc	-37.75%	250.43%
MSTR Strategy Inc	-16.72%	-58.80%

Correlation

The correlation between BMNR and MSTR is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 6, 2025	0.65

Fundamentals

Market Cap BMNR : $7.68T MSTR : $42.26B
EPS BMNR : -$0.06 MSTR : -$40.19
PS Ratio BMNR : 153.44K MSTR : 79.33
PB Ratio BMNR : 779.37 MSTR : 1.15
Total Revenue (TTM) BMNR : $16.71M MSTR : $490.47M
Gross Profit (TTM) BMNR : $1.15M MSTR : $334.08M
EBITDA (TTM) BMNR : -$3.62B MSTR : $466.93M

Return for Risk

BMNR vs. MSTR — Risk / Return Rank

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

MSTR

MSTR Risk / Return Rank: 6
MSTR Sharpe Ratio Rank: 5
MSTR Sortino Ratio Rank: 3
MSTR Omega Ratio Rank: 6
MSTR Calmar Ratio Rank: 7
MSTR Martin Ratio Rank: 10

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. MSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitmine Immersion Technologies Inc (BMNR) and Strategy Inc (MSTR). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BMNR	MSTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.96	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.23	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.12	+0.04

Drawdowns

BMNR vs. MSTR - Drawdown Comparison

The maximum BMNR drawdown since its inception was -87.48%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for BMNR and MSTR.

Drawdown Indicators

	BMNR	MSTR	Difference
Max Drawdown Largest peak-to-trough decline	-87.48%	-99.86%	+12.38%
Max Drawdown (1Y) Largest decline over 1 year	—	-76.53%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-77.42%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-84.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-89.27%	—
Current Drawdown Current decline from peak	-87.48%	-73.29%	-14.19%
Average Drawdown Average peak-to-trough decline	-70.64%	-86.48%	+15.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	51.59%	—

Volatility

Volatility by Period

	BMNR	MSTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	19.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	56.49%	—
Volatility (1Y) Calculated over the trailing 1-year period	721.86%	70.30%	+651.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	721.86%	90.79%	+631.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	721.86%	73.70%	+648.16%

Dividends

BMNR vs. MSTR - Dividend Comparison

BMNR's dividend yield for the trailing twelve months is around 0.06%, while MSTR has not paid dividends to shareholders.

Position	TTM	2025
BMNR Bitmine Immersion Technologies Inc	0.06%	0.04%
MSTR Strategy Inc	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both BMNR and MSTR in my portfolio?

BMNR and MSTR have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.