BMNR vs. SBET

Last updated Jul 11, 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 -63.11% vs -74.55% for SBET. A 0.71 correlation means they provide meaningful diversification when combined.

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 -44.83% return, which is significantly lower than SBET's -38.37% return.

BMNR

• 1D: 1.97%
• 1M: -7.01%
• 6M: -50.17%
• YTD: -44.83%
• 1Y: -63.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBET

• 1D: 3.57%
• 1M: -0.00%
• 6M: -45.01%
• YTD: -38.37%
• 1Y: -74.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BMNR vs. SBET - Yearly Performance Comparison

	2026 (YTD)	2025
BMNR BitMine Immersion Technologies, Inc.	-44.83%	274.59%
SBET Sharplink, Inc.	-38.37%	-84.90%

Correlation

The correlation between BMNR and SBET is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.71

The correlation between BMNR and SBET has been stable across timeframes, ranging from 0.71 to 0.80 - a consistent structural relationship.

Fundamentals

Market Cap BMNR : $8.53B SBET : $1.09B
EPS BMNR : -$0.06 SBET : -$11.70
PS Ratio BMNR : 136.00K SBET : 16.97
Total Revenue (TTM) BMNR : $16.71M SBET : $39.37M
Gross Profit (TTM) BMNR : $1.15M SBET : $37.65M
EBITDA (TTM) BMNR : -$3.62B SBET : -$504.51M

Return for Risk

BMNR vs. SBET — Risk / Return Rank

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

BMNR

BMNR Risk / Return Rank: 14
BMNR Sharpe Ratio Rank: 15
BMNR Sortino Ratio Rank: 14
BMNR Omega Ratio Rank: 17
BMNR Calmar Ratio Rank: 10
BMNR Martin Ratio Rank: 13

SBET

SBET Risk / Return Rank: 15
SBET Sharpe Ratio Rank: 12
SBET Sortino Ratio Rank: 11
SBET Omega Ratio Rank: 14
SBET Calmar Ratio Rank: 13
SBET Martin Ratio Rank: 24

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. 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	-0.68	-0.74	+0.06
Sortino ratio: Return per unit of downside risk	-0.93	-1.17	+0.24
Omega ratio: Gain probability vs. loss probability	0.90	0.87	+0.03
Calmar ratio: Return relative to maximum drawdown	-0.86	-0.80	-0.06
Martin ratio: Return relative to average drawdown	-1.28	-0.99	-0.29

BMNR vs. SBET - Sharpe Ratio Comparison

The current BMNR Sharpe Ratio is -0.68, which is comparable to the SBET Sharpe Ratio of -0.74. 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%	-87.80%	+8.86%
Current Drawdown Current decline from peak	-88.90%	-93.04%	+4.14%
Average Drawdown Average peak-to-trough decline	-72.02%	-66.73%	-5.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	52.94%	71.00%	-18.06%

Volatility

BMNR vs. SBET - Volatility Comparison

BitMine Immersion Technologies, Inc. (BMNR) and Sharplink, Inc. (SBET) have volatilities of 20.25% and 19.34%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. 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	20.25%	19.34%	+0.91%
Volatility (6M) Calculated over the trailing 6-month period	57.80%	55.49%	+2.31%
Volatility (1Y) Calculated over the trailing 1-year period	104.46%	95.32%	+9.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	687.32%	334.43%	+352.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	687.32%	334.43%	+352.89%

Dividends

BMNR vs. SBET - Dividend Comparison

BMNR's dividend yield for the trailing twelve months is around 0.07%, while SBET has not paid dividends to shareholders.

Position	TTM	2025
BMNR BitMine Immersion Technologies, Inc.	0.07%	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 0.80, 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 (20.25%) compared to SBET (19.34%). 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 (-0.68 vs -0.74), 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.