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BIT ORIGIN Ltd

BTOG Clue Score22
Cayman Islands Fiscal year ends June CIK 0001735556
$2.21 -4.74% Close, 3 Sep 2026
Price $2.21 +92.17% Close, 3 Sep 2026

Closing prices at the end of each trading day, from 14 Aug 2019. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue63.3Operating income3.5Net income2.5EPS, diluted0.12Fiscal year 2018Revenue101.1 +59.8%Operating income7.0Net income3.8 +53.5%EPS, diluted0.19Fiscal year 2019Revenue99.1 −2.0%Operating income−0.5Net income4.4 +15.8%EPS, diluted0.21Fiscal year 2020Revenue24.2 −75.5%Operating income−3.4Net income−4.9 −211.8%EPS, diluted−0.18Fiscal year 2021Revenue80.5 +232.0%Operating income−3.5Net income−45.6EPS, diluted−3.29Fiscal year 2022Revenue6.3 −92.2%Operating income−28.3Net income3.2EPS, diluted−8.61Fiscal year 2023Revenue6.3 +0.0%Operating income−28.3Net income−28.2 −971.0%EPS, diluted−8.61Fiscal year 2024Revenue2.9 −53.9%Operating income−14.8Net income−17.5EPS, diluted−1,003.41Fiscal year 2025Revenue0.0 −98.6%Operating income−3.0Net income−4.4EPS, diluted−84.84Fiscal year 2026Operating income−14.3Net income−14.3EPS, diluted−70.43
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 63.3 101.1 99.1 24.2 80.5 6.3 6.3 2.9 0.0 n/a
Growth +59.8% −2.0% −75.5% +232.0% −92.2% +0.0% −53.9% −98.6%
Operating income 3.5 7.0 −0.5 −3.4 −3.5 −28.3 −28.3 −14.8 −3.0 −14.3
Net income 2.5 3.8 4.4 −4.9 −45.6 3.2 −28.2 −17.5 −4.4 −14.3
Growth +53.5% +15.8% −211.8% −971.0%
EPS, diluted 0.12 0.19 0.21 −0.18 −3.29 −8.61 −8.61 −1,003.41 −84.84 −70.43

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin8.0%Operating margin5.6%Net margin3.9%Free cash flow margin−4.0%Fiscal year 2018Gross margin9.5%Operating margin7.0%Net margin3.7%Free cash flow margin−3.6%Fiscal year 2019Gross margin8.7%Operating margin−0.5%Net margin4.4%Free cash flow margin−5.3%Fiscal year 2020Gross margin8.4%Operating margin−14.2%Net margin−20.1%Free cash flow margin−27.3%Fiscal year 2021Gross margin3.7%Operating margin−4.3%Net margin−56.7%Fiscal year 2022Gross margin−72.9%Operating margin−452.1%Net margin51.7%Free cash flow margin−360.0%Fiscal year 2023Gross margin−72.9%Operating margin−452.1%Net margin−450.7%Free cash flow margin−109.8%Fiscal year 2024Gross margin−32.7%Operating margin−513.6%Net margin−607.0%Fiscal year 2025Gross margin100.0%Operating margin−7,574.9%Net margin−11,064.5%Fiscal year 2026
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Gross margin 8.0% 9.5% 8.7% 8.4% 3.7% −72.9% −72.9% −32.7% 100.0% n/a
Operating margin 5.6% 7.0% −0.5% −14.2% −4.3% −452.1% −452.1% −513.6% −7,574.9% n/a
Net margin 3.9% 3.7% 4.4% −20.1% −56.7% 51.7% −450.7% −607.0% −11,064.5% n/a
Free cash flow margin −4.0% −3.6% −5.3% −27.3% n/a −360.0% −109.8% n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow−2.5Capital expenditure−0.0Free cash flow−2.5Fiscal year 2018Operating cash flow−3.6Capital expenditure−0.1Free cash flow−3.7Fiscal year 2019Operating cash flow−5.3Capital expenditure−0.0Free cash flow−5.3Fiscal year 2020Operating cash flow−5.9Capital expenditure−0.7Free cash flow−6.6Fiscal year 2021Operating cash flow−10.4Fiscal year 2022Operating cash flow−14.2Capital expenditure−8.3Free cash flow−22.5Fiscal year 2023Operating cash flow−6.8Capital expenditure−0.1Free cash flow−6.9Fiscal year 2024Operating cash flow−7.9Fiscal year 2025Operating cash flow−2.3Fiscal year 2026Operating cash flow−2.9
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow −2.5 −3.6 −5.3 −5.9 −10.4 −14.2 −6.8 −7.9 −2.3 −2.9
Capital expenditure −0.0 −0.1 −0.0 −0.7 n/a −8.3 −0.1 n/a n/a n/a
Free cash flow −2.5 −3.7 −5.3 −6.6 n/a −22.5 −6.9 n/a n/a n/a
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash0.0Shareholders’ equity10.1Fiscal year 2018Cash0.3Shareholders’ equity14.0Fiscal year 2019Cash2.7Total debt0.0Net cash (debt)2.7Shareholders’ equity24.5Debt to equity0.00Fiscal year 2020Cash1.1Total debt0.8Net cash (debt)0.3Shareholders’ equity23.8Debt to equity0.03Fiscal year 2021Cash0.0Shareholders’ equity−3.2Fiscal year 2022Cash0.0Shareholders’ equity34.7Fiscal year 2023Cash0.0Shareholders’ equity10.3Fiscal year 2024Cash1.4Shareholders’ equity1.7Fiscal year 2025Cash0.1Shareholders’ equity3.9Fiscal year 2026Cash1.6Shareholders’ equity5.6
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 0.0 0.3 2.7 1.1 0.0 0.0 0.0 1.4 0.1 1.6
Total debt n/a n/a 0.0 0.8 n/a n/a n/a n/a n/a n/a
Net cash (debt) n/a n/a 2.7 0.3 n/a n/a n/a n/a n/a n/a
Shareholders’ equity 10.1 14.0 24.5 23.8 −3.2 34.7 10.3 1.7 3.9 5.6
Debt to equity n/a n/a 0.00 0.03 n/a n/a n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending June, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 30 Jun 2017 FY2018 30 Jun 2018 FY2019 30 Jun 2019 FY2020 30 Jun 2020 FY2021 30 Jun 2021 FY2022 30 Jun 2022 FY2023 30 Jun 2023 FY2024 30 Jun 2024 FY2025 30 Jun 2025 FY2026 30 Jun 2026
Margins
8.0% 9.5% 8.7% 8.4% 3.7% −72.9% −72.9% −32.7% 100.0% n/a
5.6% 7.0% −0.5% −14.2% −4.3% −452.1% −452.1% −513.6% −7,574.9% n/a
5.3% 4.4% −0.5% −16.2% −4.5% −450.7% −450.7% −633.0% −11,064.5% n/a
3.9% 3.7% 4.4% −20.1% −56.7% 51.7% −450.7% −607.0% −11,064.5% n/a
−4.0% −3.6% −5.3% −27.3% n/a −360.0% −109.8% n/a n/a n/a
Spending
0.8% 1.0% 0.5% 10.4% 2.0% 46.6% 46.6% 132.1% 7,805.6% n/a
0.0% 0.1% 0.0% 2.9% n/a 132.6% 1.8% n/a n/a n/a
26.3% 15.9% n/a n/a n/a n/a n/a n/a n/a n/a
Returns
24.2% 26.9% 17.8% −20.5% n/a 9.3% −275.0% −1,054.4% −112.0% −254.3%
n/a 11.2% 8.5% −7.7% −111.6% 9.3% −211.6% −262.3% −123.6% −67.6%
Balance and payout
n/a n/a 0.00 0.03 n/a n/a n/a n/a n/a n/a
n/a 53.1% 52.2% 57.7% 104.0% 0.9% 23.1% 86.4% 10.5% 57.1%