BMNR vs. BSY: Bitmine Immersion vs. Bentley Systems Stock Comparison

November 11, 2026

How do Bitmine Immersion (BMNR) and Bentley Systems (BSY) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Bitmine Immersion (BMNR) and Bentley Systems (BSY) are both classified in the Application Software sub-industry within the broader Software industry, placing them in the closest GICS peer bucket.

Company profile comparison for Bitmine Immersion (BMNR) and Bentley Systems (BSY)
Profile Item	BMNR	BSY
Name	BitMine Immersion Technologies, Inc.	Bentley Systems, Incorporated Class B Common Stock
Country/Region	United States	United States
GICS Sector	Information Technology	Information Technology
GICS Industry Group	Software & Services	Software & Services
GICS Industry	Software	Software
GICS Sub-Industry	Application Software	Application Software
Market Capitalization	11.32 billion USD	13.50 billion USD
Currency	USD	USD
Exchange	NYSE American	Nasdaq
Listing Date	June 5, 2025	September 23, 2020
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

BMNR

BSY

GSPC

Bitmine Immersion (BMNR) vs. Bentley Systems (BSY), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Bitmine Immersion (BMNR) and Bentley Systems (BSY). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Bitmine Immersion (BMNR) and Bentley Systems (BSY). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Bitmine Immersion (BMNR) and Bentley Systems (BSY)
Metric	BMNR	BSY
Total Return (1Y)	-52.72%	-2.57%
Total Return (3Y, Annualized)	--	-3.01%
Total Return (5Y, Annualized)	--	-5.13%

Risk Profile

Drawdown History

BMNR

BSY

GSPC

Bitmine Immersion (BMNR) vs. Bentley Systems (BSY), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Bitmine Immersion (BMNR) and Bentley Systems (BSY). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Bitmine Immersion (BMNR) and Bentley Systems (BSY)
Metric	BMNR	BSY
Volatility (1Y, Annualized)	89.23%	41.49%
Beta (5Y)	1.75	0.92
Max Drawdown (5Y)	-90.14%	-53.94%
Avg. Volume (3M)	36.95M	2.67M

Risk-Adjusted Performance

Risk-Return Positioning

BMNR and BSY are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Bitmine Immersion (BMNR) and Bentley Systems (BSY)
Metric	BMNR	BSY
Sharpe Ratio (1Y)	-0.64	-0.17
Sortino Ratio (1Y)	-0.93	-0.25

Profitability

ROE (TTM)

Bitmine Immersion (BMNR) reports a negative ROE of -150.91%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile Bentley Systems (BSY) reports 26.03%, ranking against industry peers normally.

BMNR

Software & Services industry group

-150.91%

Max: 53.85%
Q3: 17.90%
Median: 6.59%
Q1: -9.59%
Min: -50.52%
BMNR: -150.91%

BSY

Software & Services industry group

26.03%

Max: 53.85%
BSY: 26.03%
Q3: 17.90%
Median: 6.59%
Q1: -9.59%
Min: -50.52%

Bitmine Immersion (BMNR) vs. Bentley Systems (BSY): A comparison of their ROE against the Software & Services industry group benchmark.

Net Margin (TTM)

Bentley Systems (BSY) at 19.57% retains a top-quartile share of revenue as profit, ahead of Bitmine Immersion (BMNR) at 0.00%, which keeps about the industry-typical share.

BMNR

Software & Services industry group

0.00%

Max: 41.17%
Q3: 15.28%
Median: 4.63%
BMNR: 0.00%
Q1: -5.42%
Min: -33.17%

BSY

Software & Services industry group

19.57%

Max: 41.17%
BSY: 19.57%
Q3: 15.28%
Median: 4.63%
Q1: -5.42%
Min: -33.17%

Bitmine Immersion (BMNR) vs. Bentley Systems (BSY): A comparison of their net margin against the Software & Services industry group benchmark.

Operating Margin (TTM)

Bentley Systems (BSY) at 29.81% operates in the top operating margin quartile, ahead of Bitmine Immersion (BMNR) at 8.42%, which runs around its industry’s norm.

BMNR

Software & Services industry group

8.42%

Max: 46.89%
Q3: 17.64%
Median: 8.73%
BMNR: 8.42%
Q1: -2.13%
Min: -30.45%

BSY

Software & Services industry group

29.81%

Max: 46.89%
BSY: 29.81%
Q3: 17.64%
Median: 8.73%
Q1: -2.13%
Min: -30.45%

Bitmine Immersion (BMNR) vs. Bentley Systems (BSY): A comparison of their operating margin against the Software & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Bitmine Immersion (BMNR) and Bentley Systems (BSY)
Metric	BMNR	BSY
ROE (TTM)	-150.91%	26.03%
ROA (TTM)	-3.17%	7.73%
Net Margin (TTM)	0.00%	19.57%
Operating Margin (TTM)	8.42%	29.81%
Gross Margin (TTM)	84.44%	82.37%

Growth

Revenue Growth

Bitmine Immersion (BMNR) at 84.14% clears its industry range for revenue growth, far stronger top-line momentum than Bentley Systems (BSY) at 10.99%, which is closer to a typical peer reading.

Bitmine Immersion (BMNR) vs. Bentley Systems (BSY): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: Bentley Systems (BSY) reports EPS growth of 18.06%, ranked against its industry; Bitmine Immersion (BMNR) has no EPS growth figure this period.

Bitmine Immersion (BMNR) vs. Bentley Systems (BSY): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Bitmine Immersion (BMNR) and Bentley Systems (BSY)
Metric	BMNR	BSY
Revenue Growth (YoY)	84.14%	10.99%
Revenue Growth (3Y CAGR)	142.45%	10.97%
EPS Growth (YoY)	--	18.06%
EPS Growth (3Y CAGR)	--	15.62%

Financial Strength

Current Ratio (MRQ)

Bitmine Immersion (BMNR) at 36.68 carries current ratio above its industry’s typical mid-range, while Bentley Systems (BSY) at 0.65 runs in the tighter-liquidity quartile — different working-capital profiles, both worth examining.

BMNR

Software & Services industry group

36.68

BMNR: 36.68
Max: 5.11
Q3: 2.77
Median: 1.67
Q1: 1.01
Min: 0.03

BSY

Software & Services industry group

0.65

Max: 5.11
Q3: 2.77
Median: 1.67
Q1: 1.01
BSY: 0.65
Min: 0.03

Bitmine Immersion (BMNR) vs. Bentley Systems (BSY): A comparison of their current ratio against the Software & Services industry group benchmark.

Debt / Equity (MRQ)

Bitmine Immersion (BMNR) at 0.00 keeps leverage in the lower industry quartile, while Bentley Systems (BSY) at 0.94 runs a more typical debt-to-equity mix.

BMNR

Software & Services industry group

0.00

Max: 2.52
Q3: 1.13
Median: 0.40
Q1: 0.07
BMNR: 0.00
Min: 0.00

BSY

Software & Services industry group

0.94

Max: 2.52
Q3: 1.13
BSY: 0.94
Median: 0.40
Q1: 0.07
Min: 0.00

Bitmine Immersion (BMNR) vs. Bentley Systems (BSY): A comparison of their debt-to-equity ratio against the Software & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Bitmine Immersion (BMNR) and Bentley Systems (BSY)
Metric	BMNR	BSY
Current Ratio (MRQ)	36.68	0.65
Debt / Equity (MRQ)	0.00	0.94
Net Debt / EBITDA	--	2.12

Dividends

Dividend Yield (TTM)

Both Bitmine Immersion (BMNR) at 0.05% and Bentley Systems (BSY) at 0.62% yield above their industries’ entire benchmark ranges — high enough that dividend safety, not income, becomes the first question.

BMNR

Software & Services industry group

0.05%

BMNR: 0.05%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

BSY

Software & Services industry group

0.62%

BSY: 0.62%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Bitmine Immersion (BMNR) vs. Bentley Systems (BSY): A comparison of their dividend yield against the Software & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Bitmine Immersion (BMNR) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Bentley Systems (BSY) reports a payout of 27.72%, ranking against industry peers normally.

BMNR

Software & Services industry group

0.00%

BMNR: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

BSY

Software & Services industry group

27.72%

BSY: 27.72%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Bitmine Immersion (BMNR) vs. Bentley Systems (BSY): A comparison of their payout ratio against the Software & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Bitmine Immersion (BMNR) and Bentley Systems (BSY)
Metric	BMNR	BSY
Dividend Yield (TTM)	0.05%	0.62%
Dividend Payout Ratio (TTM)	0.00%	27.72%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: Bentley Systems (BSY) trades at 44.21 times trailing earnings, ranked against its peers, while Bitmine Immersion (BMNR) has no P/E ratio this period.

BMNR

Software & Services industry group

Max: 112.94
Q3: 60.32
Median: 32.91
Q1: 18.77
Min: 6.69
BMNR: --

BSY

Software & Services industry group

44.21

Max: 112.94
Q3: 60.32
BSY: 44.21
Median: 32.91
Q1: 18.77
Min: 6.69

Bitmine Immersion (BMNR) vs. Bentley Systems (BSY): BMNR does not report P/E ratio, so it has no value marker; BSY is benchmarked against the Software & Services industry group.

P/S Ratio (TTM)

Bentley Systems (BSY) at 8.19 prices around its industry’s typical P/S ratio, while Bitmine Immersion (BMNR) at 184.93 clears its benchmark range — BMNR looks notably rich on sales.

BMNR

Software & Services industry group

184.93

BMNR: 184.93
Max: 17.91
Q3: 8.78
Median: 4.25
Q1: 2.23
Min: 0.02

BSY

Software & Services industry group

8.19

Max: 17.91
Q3: 8.78
BSY: 8.19
Median: 4.25
Q1: 2.23
Min: 0.02

Bitmine Immersion (BMNR) vs. Bentley Systems (BSY): A comparison of their P/S ratio against the Software & Services industry group benchmark.

P/B Ratio (MRQ)

Bitmine Immersion (BMNR) at 0.94 looks cheap against book in the lower P/B ratio quartile, while Bentley Systems (BSY) at 10.79 carries a premium in the upper quartile — a clear price-to-book gap.

BMNR

Software & Services industry group

0.94

Max: 16.63
Q3: 8.50
Median: 4.30
Q1: 1.92
BMNR: 0.94
Min: -3.90

BSY

Software & Services industry group

10.79

Max: 16.63
BSY: 10.79
Q3: 8.50
Median: 4.30
Q1: 1.92
Min: -3.90

Bitmine Immersion (BMNR) vs. Bentley Systems (BSY): A comparison of their P/B ratio against the Software & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Bitmine Immersion (BMNR) and Bentley Systems (BSY)
Metric	BMNR	BSY
P/E Ratio (TTM)	--	44.21
P/S Ratio (TTM)	184.93	8.19
P/B Ratio (MRQ)	0.94	10.79
Free Cash Flow Yield (TTM)	-4.58%	2.74%