BMNR vs. SBET

Last updated Aug 1, 2026

BMNR (BitMine Immersion Technologies, Inc.) and SBET (Sharplink, Inc.) are both stocks. Both are in the Financial Services sector — BMNR in Capital Markets, SBET in Asset Management. Over the past year, BMNR returned -45.44% vs -64.29% for SBET. Their 0.71 correlation means they have sometimes moved together and sometimes differently.

Performance

BMNR vs. SBET - Performance Comparison

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

Returns By Period

In the year-to-date period, BMNR achieves a -36.35% return, which is significantly lower than SBET's -31.54% return.

BMNR

• 1D: -4.42%
• 1M: 20.33%
• 6M: -31.16%
• YTD: -36.35%
• 1Y: -45.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 112.50%

SBET

• 1D: -4.52%
• 1M: 15.25%
• 6M: -31.08%
• YTD: -31.54%
• 1Y: -64.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -28.88%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BMNR BitMine Immersion Technologies, Inc.	$649.87M	$588.80M	$654.98M
SBET Sharplink, Inc.	$53.27M	$53.90M	$52.48M

BMNR vs. SBET - Yearly Performance Comparison

	2026 (YTD)	2025
BMNR BitMine Immersion Technologies, Inc.	-36.35%	274.59%
SBET Sharplink, Inc.	-31.54%	-84.90%

Correlation

The correlation between BMNR and SBET is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.71

The correlation between BMNR and SBET shifts across timeframes, from 0.71 (all time) to 0.86 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap BMNR : $9.84B SBET : $1.21B
EPS BMNR : -$22.73 SBET : -$11.70
PS Ratio BMNR : 108.77 SBET : 18.85
Total Revenue (TTM) BMNR : $61.19M SBET : $39.37M
Gross Profit (TTM) BMNR : $51.09M SBET : $37.65M
EBITDA (TTM) BMNR : -$3.61B SBET : -$504.51M

Return for Risk

BMNR vs. SBET — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BMNR

BMNR Risk / Return Rank: 24
BMNR Sharpe Ratio Rank: 21
BMNR Sortino Ratio Rank: 25
BMNR Omega Ratio Rank: 27
BMNR Calmar Ratio Rank: 20
BMNR Martin Ratio Rank: 26

SBET

SBET Risk / Return Rank: 12
SBET Sharpe Ratio Rank: 9
SBET Sortino Ratio Rank: 8
SBET Omega Ratio Rank: 11
SBET Calmar Ratio Rank: 11
SBET Martin Ratio Rank: 18

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BMNR vs. SBET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BitMine Immersion Technologies, Inc. (BMNR) and Sharplink, Inc. (SBET). 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	SBET	Difference
Sharpe ratio: Return per unit of total volatility	-0.51	-0.82	+0.32
Sortino ratio: Return per unit of downside risk	-0.32	-1.31	+0.99
Omega ratio: Gain probability vs. loss probability	0.97	0.86	+0.11
Calmar ratio: Return relative to maximum drawdown	-0.64	-0.84	+0.20
Martin ratio: Return relative to average drawdown	-0.90	-1.12	+0.22

BMNR vs. SBET - Sharpe Ratio Comparison

The current BMNR Sharpe Ratio is -0.51, which is higher than the SBET Sharpe Ratio of -0.82. The chart below compares the historical Sharpe Ratios of BMNR and SBET, 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. SBET - Drawdown Comparison

The maximum BMNR drawdown since its inception was -90.14%, roughly equal to the maximum SBET drawdown of -94.24%. Use the drawdown chart below to compare losses from any high point for BMNR and SBET.

Drawdown Indicators

	BMNR	SBET	Difference
Max Drawdown Largest peak-to-trough decline	-90.14%	-94.24%	+4.10%
Max Drawdown (1Y) Largest decline over 1 year	-78.94%	-80.94%	+2.00%
Current Drawdown Current decline from peak	-87.20%	-92.27%	+5.07%
Average Drawdown Average peak-to-trough decline	-72.84%	-67.36%	-5.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	55.66%	60.25%	-4.59%

Volatility

BMNR vs. SBET - Volatility Comparison

BitMine Immersion Technologies, Inc. (BMNR) has a higher volatility of 25.80% compared to Sharplink, Inc. (SBET) at 21.90%. This indicates that BMNR's price experiences larger fluctuations and is considered to be riskier than SBET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BMNR	SBET	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.80%	21.90%	+3.90%
Volatility (6M) Calculated over the trailing 6-month period	59.75%	56.64%	+3.11%
Volatility (1Y) Calculated over the trailing 1-year period	99.30%	82.34%	+16.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	669.63%	330.59%	+339.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	669.63%	330.59%	+339.04%

Dividends

BMNR vs. SBET - Dividend Comparison

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

Position	TTM	2025
BMNR BitMine Immersion Technologies, Inc.	0.06%	0.04%
SBET Sharplink, Inc.	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both BMNR and SBET in my portfolio?

BMNR and SBET have a correlation of 0.86, 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 SBET?

BMNR has higher volatility (25.80%) compared to SBET (21.90%). In terms of maximum drawdown, BMNR dropped -90.14% vs SBET's -94.24%.

Which has better risk-adjusted returns?

BMNR currently has the higher Sharpe Ratio (-0.51 vs -0.82), 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.