Bgin Blockchain Reports Increased Losses in FY Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 24 2026
0mins
Should l Buy BGIN?
Source: seekingalpha
- Increased Losses: Bgin Blockchain Limited reported a FY GAAP EPS of -$1.62, indicating a significant decline in profitability that could negatively impact investor confidence and market perception.
- Revenue Decline: The company’s revenue of $67.4 million represents a staggering 77.7% year-over-year decrease, suggesting severe operational challenges that may necessitate a reevaluation of its market strategy to address ongoing revenue pressures.
- Cash Reserves Dwindling: As of December 31, 2025, the company had $26.3 million in cash, a sharp decline from $114.8 million on December 31, 2024, highlighting increasing liquidity risks that could affect future operations and investment capabilities.
- Challenging Market Environment: Bgin Blockchain faces pressures from the DeFi sector and high short interest among crypto firms, with peak short interest reaching up to $2 billion in market cap, potentially intensifying competition and operational difficulties.
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Analyst Views on BGIN
About BGIN
Bgin Blockchain Ltd, through its operating subsidiaries, is a digital asset technology company. The Company is principally engaged in a cryptocurrency mining business through its operating subsidiary located in Hong Kong. Its segments include Cryptocurrency mining and Sale of mining machines. Its subsidiaries design and sell mining machines equipped with its proprietary 8nm or 12nm ASIC chips under different series dedicated to the mining of KAS coins, ALPH coins, and RXD coins. These machines are available for purchase only through its Website, iceriver.io. ICERIVER is a mining machine manufacturer which is engaged in developing efficient mining machines for all types of miners, from beginners to industrial scale. It offers miners comprehensive hosting services to maximize mining performance. The Company takes care of complex tasks, such as machine management, electricity billing, and ongoing maintenance, allowing you to focus on optimizing mining activities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Cryptocurrency Gains Boost Mining Stocks: Bitcoin Up 1.5%, Ethereum Up 0.6%, Solana Up 1%; Cipher Soars 16%, Bgin Rises 11%, APLD Increases 7%, IREN and RIOT Also See Gains.
Cryptocurrency Market Performance: Major cryptocurrencies like Bitcoin, Ethereum, and Solana have seen slight increases, with Bitcoin up by 1.5%, Ethereum by 0.6%, and Solana by 1%.
Mining Stocks Surge: Mining stocks are experiencing significant gains, with notable increases in companies such as Cipher (+16%), Bgins (+11%), and APLD (+7%).
Overall Market Sentiment: The positive movement in both cryptocurrencies and mining stocks indicates a bullish sentiment in the market.
Additional Companies Rising: Other companies in the sector, including IREN and RIOT, are also showing upward trends in their stock prices.
See More
BGIN Blockchain Unveils Portable Bitcoin Miner Prototype
- Product Launch: BGIN showcased its PortableBTC prototype miner at the Bitcoin 2026 conference in Las Vegas, marking the company's entry into Bitcoin mining hardware development and aligning with its vision of 'Crypto for All'.
- Technological Innovation: Powered by the BT1 chip, this prototype signifies a crucial milestone in ICERIVER's Bitcoin mining hardware journey, although it is not for commercial sale, it demonstrates BGIN's capabilities in ASIC design and system validation.
- Industry Discussion: BGIN's Chief Corporate Development Officer, Rezwan Mirza, participated in a panel titled 'The Future of Mining Hardware', emphasizing the importance of full-stack capabilities in Bitcoin mining competition, including ASIC design, machine manufacturing, and operational efficiency.
- Market Strategy: BGIN aims to promote the accessibility of cryptocurrency mining by developing consumer-oriented Bitcoin mining products, which is expected to enhance its competitiveness in the rapidly evolving digital asset market.
See More
BGIN Blockchain Reports $177 Million Net Loss for 2025
- Significant Revenue Decline: BGIN reported total revenue of $67.4 million for 2025, a staggering 78% drop from $302.3 million in 2024, primarily due to decreased mining pool and machine sales revenue, indicating mounting pressure in a competitive market.
- Net Loss Escalation: The company faced a net loss of $177 million in 2025, contrasting sharply with a net income of $66.1 million in 2024, reflecting substantial non-cash losses and asset impairments during its strategic transformation.
- Dramatic Drop in Mining Machine Sales: Sales of mining machines plummeted to $15.3 million in 2025 from $192.2 million in 2024, with units sold decreasing from 102,849 to 9,410, highlighting a severe decline in market demand and intensified competition.
- Strategic Shift Towards Bitcoin: BGIN aims to focus on Bitcoin and Dogecoin mining in 2026, intending to enhance market competitiveness through new mining technologies and cloud mining services, which, despite short-term financial challenges, could lay the groundwork for long-term growth.
See More
Bgin Blockchain Reports Increased Losses in FY Results
- Increased Losses: Bgin Blockchain Limited reported a FY GAAP EPS of -$1.62, indicating a significant decline in profitability that could negatively impact investor confidence and market perception.
- Revenue Decline: The company’s revenue of $67.4 million represents a staggering 77.7% year-over-year decrease, suggesting severe operational challenges that may necessitate a reevaluation of its market strategy to address ongoing revenue pressures.
- Cash Reserves Dwindling: As of December 31, 2025, the company had $26.3 million in cash, a sharp decline from $114.8 million on December 31, 2024, highlighting increasing liquidity risks that could affect future operations and investment capabilities.
- Challenging Market Environment: Bgin Blockchain faces pressures from the DeFi sector and high short interest among crypto firms, with peak short interest reaching up to $2 billion in market cap, potentially intensifying competition and operational difficulties.
See More
BGIN BLOCKCHAIN LIMITED ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE COMPLETE YEAR OF 2025
Financial Performance: The report outlines the unaudited financial results for the year 2025, indicating the company's overall performance and key financial metrics.
Revenue Insights: It provides insights into revenue generation, highlighting significant growth areas and potential challenges faced during the fiscal year.
Operational Highlights: The report discusses operational achievements and strategic initiatives that contributed to the company's performance in 2025.
Future Outlook: It concludes with a forward-looking statement regarding the company's expectations and strategic direction for the upcoming years.
See More
BGIN Blockchain Announces FY2025 Earnings Conference Call Schedule
- Earnings Call Schedule: BGIN Blockchain Limited has scheduled its FY2025 earnings conference call for April 24, 2026, at 8:00 PM U.S. Eastern Time, aiming to provide detailed financial results to enhance transparency and communication with investors.
- Participation Details: Participants are required to register via the provided link, after which they will receive dial-in numbers and a unique access PIN, ensuring a smooth and engaging experience during the call.
- Live Webcast and Archive: The conference call will be available via live webcast and archived on the company's investor relations website, allowing investors who cannot attend live to access the information at their convenience, thereby improving information accessibility.
- Company Overview: BGIN Blockchain Limited focuses on digital asset technology with proprietary cryptocurrency mining technologies, aiming to make crypto mining accessible to all through innovative products, showcasing its strategic positioning and market potential in the industry.
See More
Cryptocurrency Gains Boost Mining Stocks: Bitcoin Up 1.5%, Ethereum Up 0.6%, Solana Up 1%; Cipher Soars 16%, Bgin Rises 11%, APLD Increases 7%, IREN and RIOT Also See Gains.
Cryptocurrency Market Performance: Major cryptocurrencies like Bitcoin, Ethereum, and Solana have seen slight increases, with Bitcoin up by 1.5%, Ethereum by 0.6%, and Solana by 1%.
Mining Stocks Surge: Mining stocks are experiencing significant gains, with notable increases in companies such as Cipher (+16%), Bgins (+11%), and APLD (+7%).
Overall Market Sentiment: The positive movement in both cryptocurrencies and mining stocks indicates a bullish sentiment in the market.
Additional Companies Rising: Other companies in the sector, including IREN and RIOT, are also showing upward trends in their stock prices.
See More
BGIN Blockchain Unveils Portable Bitcoin Miner Prototype
- Product Launch: BGIN showcased its PortableBTC prototype miner at the Bitcoin 2026 conference in Las Vegas, marking the company's entry into Bitcoin mining hardware development and aligning with its vision of 'Crypto for All'.
- Technological Innovation: Powered by the BT1 chip, this prototype signifies a crucial milestone in ICERIVER's Bitcoin mining hardware journey, although it is not for commercial sale, it demonstrates BGIN's capabilities in ASIC design and system validation.
- Industry Discussion: BGIN's Chief Corporate Development Officer, Rezwan Mirza, participated in a panel titled 'The Future of Mining Hardware', emphasizing the importance of full-stack capabilities in Bitcoin mining competition, including ASIC design, machine manufacturing, and operational efficiency.
- Market Strategy: BGIN aims to promote the accessibility of cryptocurrency mining by developing consumer-oriented Bitcoin mining products, which is expected to enhance its competitiveness in the rapidly evolving digital asset market.
See More
BGIN Blockchain Reports $177 Million Net Loss for 2025
- Significant Revenue Decline: BGIN reported total revenue of $67.4 million for 2025, a staggering 78% drop from $302.3 million in 2024, primarily due to decreased mining pool and machine sales revenue, indicating mounting pressure in a competitive market.
- Net Loss Escalation: The company faced a net loss of $177 million in 2025, contrasting sharply with a net income of $66.1 million in 2024, reflecting substantial non-cash losses and asset impairments during its strategic transformation.
- Dramatic Drop in Mining Machine Sales: Sales of mining machines plummeted to $15.3 million in 2025 from $192.2 million in 2024, with units sold decreasing from 102,849 to 9,410, highlighting a severe decline in market demand and intensified competition.
- Strategic Shift Towards Bitcoin: BGIN aims to focus on Bitcoin and Dogecoin mining in 2026, intending to enhance market competitiveness through new mining technologies and cloud mining services, which, despite short-term financial challenges, could lay the groundwork for long-term growth.
See More
Bgin Blockchain Reports Increased Losses in FY Results
- Increased Losses: Bgin Blockchain Limited reported a FY GAAP EPS of -$1.62, indicating a significant decline in profitability that could negatively impact investor confidence and market perception.
- Revenue Decline: The company’s revenue of $67.4 million represents a staggering 77.7% year-over-year decrease, suggesting severe operational challenges that may necessitate a reevaluation of its market strategy to address ongoing revenue pressures.
- Cash Reserves Dwindling: As of December 31, 2025, the company had $26.3 million in cash, a sharp decline from $114.8 million on December 31, 2024, highlighting increasing liquidity risks that could affect future operations and investment capabilities.
- Challenging Market Environment: Bgin Blockchain faces pressures from the DeFi sector and high short interest among crypto firms, with peak short interest reaching up to $2 billion in market cap, potentially intensifying competition and operational difficulties.
See More
BGIN BLOCKCHAIN LIMITED ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE COMPLETE YEAR OF 2025
Financial Performance: The report outlines the unaudited financial results for the year 2025, indicating the company's overall performance and key financial metrics.
Revenue Insights: It provides insights into revenue generation, highlighting significant growth areas and potential challenges faced during the fiscal year.
Operational Highlights: The report discusses operational achievements and strategic initiatives that contributed to the company's performance in 2025.
Future Outlook: It concludes with a forward-looking statement regarding the company's expectations and strategic direction for the upcoming years.
See More
BGIN Blockchain Announces FY2025 Earnings Conference Call Schedule
- Earnings Call Schedule: BGIN Blockchain Limited has scheduled its FY2025 earnings conference call for April 24, 2026, at 8:00 PM U.S. Eastern Time, aiming to provide detailed financial results to enhance transparency and communication with investors.
- Participation Details: Participants are required to register via the provided link, after which they will receive dial-in numbers and a unique access PIN, ensuring a smooth and engaging experience during the call.
- Live Webcast and Archive: The conference call will be available via live webcast and archived on the company's investor relations website, allowing investors who cannot attend live to access the information at their convenience, thereby improving information accessibility.
- Company Overview: BGIN Blockchain Limited focuses on digital asset technology with proprietary cryptocurrency mining technologies, aiming to make crypto mining accessible to all through innovative products, showcasing its strategic positioning and market potential in the industry.
See More
