BGIN on Nasdaq
BGIN BLOCKCHAIN Ltd
Price unavailable
Last updated Oct 16, 2026.
Overview
Compare with GPGI, Inc., VimpelCom or Marathon Digital Holdings, or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
-112.2%Gross margin2
-261.3%Operating margin2
-262.6%Net margin2
-77.7%Revenue growth, 20252
-324.7%Return on equity2
-$171.1MFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Mining Revenue brought in 30% of the revenue BGIN BLOCKCHAIN Ltd broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Mining Revenue | $13.0M | $45.0M | $42.9M |
| block Rewards | $36.5M | $98.8M | $37.9M |
| Sale Of Mining Machines | $219.8M | $192.2M | $15.3M |
| Sales Of Mining Machines | $219.8M | $192.2M | $15.3M |
| Cryptocurrency Mining In Thirdparty Mining Pools | $509.9K | $568.4K | $10.8M |
| Mining Pool | $10.8M | ||
| Mining Pool Revenue | $24.0M | $58.8M | $5.9M |
| Hosting Revenue | $482.2K | $6.2M | $3.3M |
| Hosting Services | $482.2K | $6.2M | $3.3M |
| Transaction Fees From Cryptocurrency Mining | $4.5M | $193.2K |
Business segments
Cryptocurrency Mining brought in 72% of the revenue BGIN BLOCKCHAIN Ltd broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Cryptocurrency Mining | $37.0M | $103.9M | $48.8M |
| Sale Of Mining Machines | $219.8M | $192.2M | $15.3M |
| Other Operating | $482.2K | $6.2M | $3.3M |
Regions
HKMember brought in 88% of the revenue BGIN BLOCKCHAIN Ltd broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| HKMember | $66.5M | $63.9M | $13.5M |
| United States | $41.1M | $44.8M | $1.2M |
| Rest of the world | $9.8M | $15.0M | $628.5K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue86¢$143.0M
- Research and development12¢$20.2M
- Income tax1¢$2.3M
Out of $67.4M in revenue.2 The company lost money this year.
Financial statements
No quarterly figures reported.
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total Revenue | $67.4M | $302.3M | $257.3M |
| Total costs of revenues | $143.0M | $174.6M | $58.1M |
| Gross (loss) profit | -$75.6M | $127.7M | $199.2M |
| Selling expenses | $393.5K | $702.9K | $1.1M |
| General and administrative | $13.9M | $7.2M | $14.6M |
| Research and development | $20.2M | $16.4M | $10.1M |
| Realized loss on future contracts | $560.5K | $726.7K | |
| Rewards earned from crypto short-term investments (right to receive cryptocurrencies) | -$438.3K | -$3.7M | |
| Change in fair value of cryptocurrencies | $23.4M | $8.4M | -$312.7K |
| Impairment of property and equipment | $42.6M | $16.3M | |
| Total operating costs and expenses | $100.5M | $46.1M | $25.5M |
| (Loss) income from operations | -$176.1M | $81.6M | $173.7M |
| Foreign exchange loss | $189.5K | $509.3K | $131.4K |
| Interest income | -$942.9K | -$1.2M | -$63.1K |
| Other (income) expenses, net | -$729.5K | $1.5M | $26.1K |
| Total other (income) expenses | -$1.5M | $847.7K | $94.3K |
| (Loss) income before provision for income taxes | -$174.6M | $80.8M | $173.6M |
| Current income tax expenses | $228.7K | $16.8M | $34.1M |
| Deferred income tax expense (recovery) | $2.1M | -$2.1M | -$278.1K |
| Income tax expense | $2.3M | $14.6M | $33.8M |
| Net (loss) income | -$177.0M | $66.1M | $139.8M |
| Net (loss) income attributable to non-controlling interest | -$95.0K | $208.6K | $52.6K |
| Net (loss) income attributable to ordinary shareholders | -$176.9M | $65.9M | $139.7M |
| Total | -$177.0M | $66.1M | $139.8M |
| Foreign currency translation adjustment - gain | $870 | ||
| Total comprehensive (loss) income | -$177.0M | $66.1M | $139.8M |
| Comprehensive (loss) income attributable to non-controlling interest | -$95.0K | $208.6K | $52.6K |
| Comprehensive (loss) income attributable to ordinary shareholders | -$176.9M | $65.9M | $139.7M |
| Basic (losses) earnings per share attribute to BGIN BLOCKCHAIN LIMITED ordinary shareholders (in Dollars per share) | -$1.62 | $0.61 | $1.30 |
| Diluted (losses) earnings per share attribute to BGIN BLOCKCHAIN LIMITED ordinary shareholders (in Dollars per share) | -$1.62 | $0.61 | $1.30 |
| Weighted average number of Class A and Class B ordinary shares outstanding- Basic (in Shares) | 109.1M shares | 107.8M shares | 107.8M shares |
| Weighted average number of Class A and Class B ordinary shares outstanding- Diluted (in Shares) | 109.1M shares | 107.8M shares | 107.8M shares |
No quarterly figures reported.
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Cash | $26.3M | $114.8M |
| Accounts receivable, net | $9.5K | |
| Inventories | $7.8M | $12.5M |
| Prepaid expenses | $6.1M | $9.2M |
| Other receivables | $195.4K | $8.9M |
| Deferred issuance costs | $795.8K | |
| Intangible assets cryptocurrencies | $22.5M | $32.1M |
| Rights to receive cryptocurrencies | $16.2M | $16.2M |
| Total current assets | $63.9M | $194.7M |
| Deposits and other non-current assets | $1.4M | $1.8M |
| Right-of-use assets | $227.3K | $431.7K |
| Deferred income tax assets | $2.1M | |
| Property and equipment, net | $27.3M | $71.7M |
| Total assets | $92.8M | $270.8M |
| Accounts payable and accrued liabilities | $3.3M | $7.2M |
| Taxes payable | $34.1M | $51.8M |
| Contract liabilities | $267.7K | $952.3K |
| Operating lease liabilities current | $131.7K | $322.4K |
| Other payables | $199.4K | $281.9K |
| Total current liabilities | $38.0M | $60.6M |
| Operating lease liabilities non-current | $88.1K | $123.0K |
| Total liabilities | $38.1M | $60.7M |
| Additional paid-in capital | $26.6M | |
| Retained earnings | $28.1M | $210.0M |
| Accumulated other comprehensive loss | -$244.1K | -$244.1K |
| Total shareholders equity | $54.5M | $209.7M |
| Non-controlling interest | $257.2K | $352.1K |
| Total liabilities and shareholders equity | $92.8M | $270.8M |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net (loss) income | -$177.0M | $66.1M | $139.8M |
| Depreciation | $21.1M | $9.7M | $3.0M |
| Inventories provision and write-off | $62.3M | $36.7M | |
| Impairment of property and equipment | $42.6M | $16.3M | |
| Provision for expected credit losses | $1.6M | ||
| Write-down of prepaid expenses | $4.0M | ||
| Change in fair value of cryptocurrencies | $23.4M | $8.4M | -$312.7K |
| Cryptocurrencies mined | -$48.8M | -$103.9M | -$37.0M |
| Loss from disposal of property and equipment | $818.4K | $1.9M | $290.6K |
| Share-based compensation | $555.0K | ||
| Employee compensation settled by cryptocurrencies | $1.2M | $969.5K | $10.3M |
| Expenses settled by cryptocurrencies | $4.4M | $7.3M | $3.4M |
| Cryptocurrencies paid to mining pool participants | $5.8M | $58.3M | $23.8M |
| Cryptocurrencies received from mining machine revenue | -$13.9M | -$183.7M | -$198.1M |
| Cryptocurrencies received from hosting revenue | -$3.3M | -$5.6M | -$18.6K |
| Realized loss on future contracts | $560.5K | $726.7K | |
| Rewards earned from crypto short-term investments (right to receive cryptocurrencies) | -$438.3K | -$3.7M | |
| Non-cash operating leases expense | $204.4K | $12.3K | $1.4K |
| Deferred income tax expense (recovery) | $2.1M | -$2.1M | -$278.1K |
| Expense of deferred issuance costs | $594.5K | $337.8K | |
| Accounts receivable | $2.8M | -$2.8M | |
| Inventories | -$74.1M | -$120.8M | -$3.5M |
| Prepaid expenses and other assets | -$585.3K | -$2.7M | -$7.5M |
| Other receivables | $2.9M | -$7.5M | -$1.0M |
| Accounts payable and accrued liabilities | -$4.1M | $5.2M | $3.5M |
| Contract liabilities | -$87.2K | -$298.7K | $353.6K |
| Taxes payable | -$17.8M | $16.4M | $34.1M |
| Other payables | -$82.5K | -$400.3K | $681.7K |
| Operating lease liabilities | -$225.6K | ||
| Due to related party | $13.4K | ||
| Net cash used in operating activities | -$166.9M | -$199.3M | -$31.3M |
| Proceeds from disposal of property and equipment | $218.8K | ||
| Purchase of property and equipment | -$4.2M | -$13.0M | -$6.7M |
| Proceeds received from sale of cryptocurrencies | $59.5M | $281.0M | $84.4M |
| Net cash provided by investing activities | $55.5M | $268.0M | $77.7M |
| Advance from (Repayments to) related parties | -$110.7K | $141.1K | |
| Increase in deferred issuance costs | -$428.0K | -$502.7K | |
| Dividend paid | -$4.1M | ||
| Proceeds from initial public offering, net of issuance cost | $26.9M | ||
| Proceeds from share issuance | $2.5K | ||
| Net cash provided by (used in) financing activities | $22.8M | -$538.7K | -$361.6K |
| Effect of foreign exchange rate changes | $1.0K | ||
| Net (decrease) increase in cash and cash equivalents | -$88.5M | $68.1M | $46.1M |
| Income taxes paid | $18.1M | $381.8K | $17.5K |
| Cryptocurrencies invested in short-term investments and future contracts | $50.8M | $331.6M | |
| Accounts payable and accrued liabilities settled cryptocurrencies | $1.8M | $292.7K | |
| Redemption of cryptocurrency short-term investments and future contracts | $66.9M | $319.0M | |
| Cryptocurrencies used for payments of due to related parties | $433.8K | $150.7K | |
| Cryptocurrencies used to pay dividends | $949.0K | $5.0M | |
| Cryptocurrencies received from loan lent to related parties | $101.3K | ||
| Cryptocurrencies lent to third party | $5.0M | ||
| Cryptocurrencies received from repayment of cryptocurrency loan to third party | $5.2M | ||
| Deferred offering costs recognized against the proceeds from the offering | $795.8K | ||
| Property and equipment transferred from inventory | $16.0M | $75.2M | |
| Right-of-use assets acquired in exchange for operating lease liabilities | $347.6K | $383.0K |
Recent filings
- Sep 30, 2026S-8 REGISTRATION STATEMENT
- Sep 25, 20266-K REPORT OF FOREIGN PRIVATE ISSUER
- Sep 15, 20266-K REPORT OF FOREIGN PRIVATE ISSUER
- Jun 9, 20263
- Jun 5, 20266-K REPORT OF FOREIGN PRIVATE ISSUER
- May 26, 20266-K REPORT OF FOREIGN PRIVATE ISSUER
- May 1, 20263
- Apr 28, 202620-F ANNUAL REPORT
- Apr 24, 20266-K REPORT OF FOREIGN PRIVATE ISSUER
- Apr 17, 20266-K REPORT OF FOREIGN PRIVATE ISSUER
- Apr 13, 20266-K REPORT OF FOREIGN PRIVATE ISSUER
- Mar 26, 20266-K REPORT OF FOREIGN PRIVATE ISSUER
- Mar 18, 20263
- Mar 18, 20263
- Mar 18, 20263
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3