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BMNR vs. NET: Bitmine Immersion vs. Cloudflare Stock Comparison

How do Bitmine Immersion (BMNR) and Cloudflare (NET) 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 Cloudflare (NET) both fall under the Software & Services industry group, but BMNR is classified in Software while NET is classified in IT Services.

Cloudflare (NET) has been public since September 13, 2019, giving it a longer listed trading history, while Bitmine Immersion (BMNR) listed on June 5, 2025 and still has a shorter public-market record.

Company profile comparison for Bitmine Immersion (BMNR) and Cloudflare (NET)
Profile ItemBMNRNET
NameBitMine Immersion Technologies, Inc.Cloudflare, Inc. Class A Common Stock
Country/RegionUnited StatesUnited States
GICS SectorInformation TechnologyInformation Technology
GICS Industry GroupSoftware & ServicesSoftware & Services
GICS IndustrySoftwareIT Services
GICS Sub-IndustryApplication SoftwareInternet Services & Infrastructure
Market Capitalization11.32 billion USD96.32 billion USD
CurrencyUSDUSD
ExchangeNYSE AmericanNYSE
Listing DateJune 5, 2025September 13, 2019
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

BMNR
NET
GSPC
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Bitmine Immersion (BMNR) vs. Cloudflare (NET), 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 Cloudflare (NET). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Bitmine Immersion (BMNR) and Cloudflare (NET)
MetricBMNRNET
Total Return (1Y)-52.72%27.13%
Total Return (3Y, Annualized)--68.21%
Total Return (5Y, Annualized)--7.66%

Risk Profile

Drawdown History

BMNR
NET
GSPC
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Bitmine Immersion (BMNR) vs. Cloudflare (NET), 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 Cloudflare (NET). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Bitmine Immersion (BMNR) and Cloudflare (NET)
MetricBMNRNET
Volatility (1Y, Annualized)89.23%67.16%
Beta (5Y)1.751.34
Max Drawdown (5Y)-90.14%-82.58%
Avg. Volume (3M)36.95M3.45M

Risk-Adjusted Performance

Risk-Return Positioning

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BMNR and NET 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 Cloudflare (NET)
MetricBMNRNET
Sharpe Ratio (1Y)-0.640.34
Sortino Ratio (1Y)-0.930.48

Profitability

ROE (TTM)

Both Bitmine Immersion (BMNR) at -150.91% and Cloudflare (NET) at -17.00% report negative ROE values. Negative ROE can reflect losses or negative shareholders’ equity, so both readings need extra context.

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%

NET

Software & Services industry group

-17.00%

Max
53.85%
Q3
17.90%
Median
6.59%
Q1
-9.59%
NET
-17.00%
Min
-50.52%
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Bitmine Immersion (BMNR) vs. Cloudflare (NET): A comparison of their ROE against the Software & Services industry group benchmark.

Net Margin (TTM)

Cloudflare (NET) reports a negative net margin of -8.75%, usually indicating a net loss over the period. Meanwhile Bitmine Immersion (BMNR) reports 0.00%, ranking against industry peers normally.

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%

NET

Software & Services industry group

-8.75%

Max
41.17%
Q3
15.28%
Median
4.63%
Q1
-5.42%
NET
-8.75%
Min
-33.17%
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Bitmine Immersion (BMNR) vs. Cloudflare (NET): A comparison of their net margin against the Software & Services industry group benchmark.

Operating Margin (TTM)

Cloudflare (NET) reports a negative operating margin of -7.27%, usually indicating that operating costs exceeded revenue at the operating-income line. Meanwhile Bitmine Immersion (BMNR) reports 8.42%, ranking against industry peers normally.

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%

NET

Software & Services industry group

-7.27%

Max
46.89%
Q3
17.64%
Median
8.73%
Q1
-2.13%
NET
-7.27%
Min
-30.45%
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Bitmine Immersion (BMNR) vs. Cloudflare (NET): A comparison of their operating margin against the Software & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Bitmine Immersion (BMNR) and Cloudflare (NET)
MetricBMNRNET
ROE (TTM)-150.91%-17.00%
ROA (TTM)-3.17%-2.00%
Net Margin (TTM)0.00%-8.75%
Operating Margin (TTM)8.42%-7.27%
Gross Margin (TTM)84.44%71.90%

Growth

Revenue Growth

Both companies are growing quickly, but Bitmine Immersion (BMNR) at 84.14% is the standout with revenue growth above its industry range; Cloudflare (NET) at 29.85% also sits in the top quartile.

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Bitmine Immersion (BMNR) vs. Cloudflare (NET): A comparison of their Revenue Growth across different time periods.

EPS Growth

Neither Bitmine Immersion (BMNR) nor Cloudflare (NET) reports a EPS growth value for this period, so a direct comparison isn't possible.

Growth Metrics

Growth metrics for Bitmine Immersion (BMNR) and Cloudflare (NET)
MetricBMNRNET
Revenue Growth (YoY)84.14%29.85%
Revenue Growth (3Y CAGR)142.45%30.51%
EPS Growth (YoY)----
EPS Growth (3Y CAGR)----

Financial Strength

Current Ratio (MRQ)

Both Bitmine Immersion (BMNR) at 36.68 and Cloudflare (NET) at 3.80 post current ratio above their industries’ typical mid-ranges — short-term liquidity appears comfortable, though unusually high readings can point to idle current assets.

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

NET

Software & Services industry group

3.80

Max
5.11
NET
3.80
Q3
2.77
Median
1.67
Q1
1.01
Min
0.03
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Bitmine Immersion (BMNR) vs. Cloudflare (NET): 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 quartile, while Cloudflare (NET) at 3.21 is above its industry debt-to-equity ratio range.

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

NET

Software & Services industry group

3.21

NET
3.21
Max
2.52
Q3
1.13
Median
0.40
Q1
0.07
Min
0.00
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Bitmine Immersion (BMNR) vs. Cloudflare (NET): 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 Cloudflare (NET)
MetricBMNRNET
Current Ratio (MRQ)36.683.80
Debt / Equity (MRQ)0.003.21
Net Debt / EBITDA----

Dividends

Dividend Yield (TTM)

Cloudflare (NET) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Bitmine Immersion (BMNR) reports a yield of 0.05%, ranking against industry peers normally.

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%

NET

Software & Services industry group

0.00%

NET
0.00%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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Bitmine Immersion (BMNR) vs. Cloudflare (NET): A comparison of their dividend yield against the Software & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Neither Bitmine Immersion (BMNR) nor Cloudflare (NET) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

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%

NET

Software & Services industry group

0.00%

NET
0.00%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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Bitmine Immersion (BMNR) vs. Cloudflare (NET): A comparison of their payout ratio against the Software & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Bitmine Immersion (BMNR) and Cloudflare (NET)
MetricBMNRNET
Dividend Yield (TTM)0.05%0.00%
Dividend Payout Ratio (TTM)0.00%0.00%

Valuation

P/E Ratio (TTM)

Neither Bitmine Immersion (BMNR) nor Cloudflare (NET) reports a P/E ratio value for this period, so a direct comparison isn’t possible.

BMNR

Software & Services industry group

--

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

NET

Software & Services industry group

--

Max
112.94
Q3
60.32
Median
32.91
Q1
18.77
Min
6.69
NET
--
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Bitmine Immersion (BMNR) vs. Cloudflare (NET): Neither stock reports P/E ratio, so the chart shows available benchmark boxes without value markers.

P/S Ratio (TTM)

Investors are paying well above the peer range per dollar of sales for both Bitmine Immersion (BMNR) at 184.93 and Cloudflare (NET) at 35.24 — each P/S ratio clears its industry’s benchmark range.

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

NET

Software & Services industry group

35.24

NET
35.24
Max
17.91
Q3
8.78
Median
4.25
Q1
2.23
Min
0.02
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Bitmine Immersion (BMNR) vs. Cloudflare (NET): A comparison of their P/S ratio against the Software & Services industry group benchmark.

P/B Ratio (MRQ)

Bitmine Immersion (BMNR) at 0.94 sits in the lower P/B ratio quartile relative to book while Cloudflare (NET) at 65.73 prices above its industry range — a wide valuation gap against assets.

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

NET

Software & Services industry group

65.73

NET
65.73
Max
16.63
Q3
8.50
Median
4.30
Q1
1.92
Min
-3.90
Loading chart…
Bitmine Immersion (BMNR) vs. Cloudflare (NET): A comparison of their P/B ratio against the Software & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Bitmine Immersion (BMNR) and Cloudflare (NET)
MetricBMNRNET
P/E Ratio (TTM)----
P/S Ratio (TTM)184.9335.24
P/B Ratio (MRQ)0.9465.73
Free Cash Flow Yield (TTM)-4.58%0.83%