SBET vs. BMNR

Last updated Aug 6, 2026

SBET (Sharplink, Inc.) and BMNR (BitMine Immersion Technologies, Inc.) are both stocks. Both are in the Financial Services sector — SBET in Asset Management, BMNR in Capital Markets. Over the past year, SBET returned -68.56% vs -44.64% for BMNR. Their 0.72 correlation means they have sometimes moved together and sometimes differently.

Performance

SBET vs. BMNR - Performance Comparison

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

Returns By Period

In the year-to-date period, SBET achieves a -28.86% return, which is significantly higher than BMNR's -32.12% return.

SBET

• 1D: 0.63%
• 1M: 12.17%
• 6M: -10.17%
• YTD: -28.86%
• 1Y: -68.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -27.63%

BMNR

• 1D: 1.82%
• 1M: 18.52%
• 6M: -9.21%
• YTD: -32.12%
• 1Y: -44.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 122.59%

*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.	$614.26M	$566.82M	$632.50M
SBET Sharplink, Inc.	$48.97M	$50.18M	$52.09M

SBET vs. BMNR - Yearly Performance Comparison

	2026 (YTD)	2025
SBET Sharplink, Inc.	-28.86%	-84.90%
BMNR BitMine Immersion Technologies, Inc.	-32.12%	274.59%

Correlation

The correlation between SBET and BMNR 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	0.72

The correlation between SBET and BMNR shifts across timeframes, from 0.72 (all time) to 0.86 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap SBET : $1.25B BMNR : $10.50B
EPS SBET : -$11.70 BMNR : -$22.73
PS Ratio SBET : 19.59 BMNR : 116.01
Total Revenue (TTM) SBET : $39.37M BMNR : $61.19M
Gross Profit (TTM) SBET : $37.65M BMNR : $51.09M
EBITDA (TTM) SBET : -$504.51M BMNR : -$3.61B

Return for Risk

SBET vs. BMNR — Risk / Return Rank

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

SBET

SBET Risk / Return Rank: 9
SBET Sharpe Ratio Rank: 7
SBET Sortino Ratio Rank: 6
SBET Omega Ratio Rank: 9
SBET Calmar Ratio Rank: 9
SBET Martin Ratio Rank: 16

BMNR

BMNR Risk / Return Rank: 25
BMNR Sharpe Ratio Rank: 22
BMNR Sortino Ratio Rank: 27
BMNR Omega Ratio Rank: 27
BMNR Calmar Ratio Rank: 21
BMNR Martin Ratio Rank: 26

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.

SBET vs. BMNR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sharplink, Inc. (SBET) and BitMine Immersion Technologies, Inc. (BMNR). 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.

	SBET	BMNR	Difference
Sharpe ratio: Return per unit of total volatility	-0.85	-0.45	-0.40
Sortino ratio: Return per unit of downside risk	-1.41	-0.18	-1.23
Omega ratio: Gain probability vs. loss probability	0.85	0.98	-0.13
Calmar ratio: Return relative to maximum drawdown	-0.85	-0.57	-0.28
Martin ratio: Return relative to average drawdown	-1.13	-0.80	-0.33

SBET vs. BMNR - Sharpe Ratio Comparison

The current SBET Sharpe Ratio is -0.85, which is lower than the BMNR Sharpe Ratio of -0.45. The chart below compares the historical Sharpe Ratios of SBET and BMNR, 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

SBET vs. BMNR - Drawdown Comparison

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

Drawdown Indicators

	SBET	BMNR	Difference
Max Drawdown Largest peak-to-trough decline	-94.24%	-90.14%	-4.10%
Max Drawdown (1Y) Largest decline over 1 year	-80.94%	-78.94%	-2.00%
Current Drawdown Current decline from peak	-91.97%	-86.34%	-5.63%
Average Drawdown Average peak-to-trough decline	-67.48%	-72.98%	+5.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	60.78%	56.19%	+4.59%

Volatility

SBET vs. BMNR - Volatility Comparison

The current volatility for Sharplink, Inc. (SBET) is 20.46%, while BitMine Immersion Technologies, Inc. (BMNR) has a volatility of 24.22%. This indicates that SBET experiences smaller price fluctuations and is considered to be less risky than BMNR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBET	BMNR	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.46%	24.22%	-3.76%
Volatility (6M) Calculated over the trailing 6-month period	54.96%	58.86%	-3.90%
Volatility (1Y) Calculated over the trailing 1-year period	80.98%	99.02%	-18.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	329.79%	666.19%	-336.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	329.79%	666.19%	-336.40%

Dividends

SBET vs. BMNR - Dividend Comparison

SBET has not paid dividends to shareholders, while BMNR's dividend yield for the trailing twelve months is around 0.05%.

Position	TTM	2025
BMNR BitMine Immersion Technologies, Inc.	0.05%	0.04%
SBET Sharplink, Inc.	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both SBET and BMNR in my portfolio?

SBET and BMNR 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, SBET or BMNR?

BMNR has higher volatility (24.22%) compared to SBET (20.46%). In terms of maximum drawdown, SBET dropped -94.24% vs BMNR's -90.14%.

Which has better risk-adjusted returns?

BMNR currently has the higher Sharpe Ratio (-0.45 vs -0.85), 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.