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Bgin Blockchain Ltd. Class A
(NASDAQ:BGIN)
Select Model
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Rating:44Neutral
Price Target:
$1.50
▼(-48.10% Downside)
Action:Reiterated
Date:07/01/26
The score is held down primarily by weak financial performance (2025 revenue collapse, large loss, and ongoing cash burn) and bearish technical positioning (price below major moving averages, high volatility). A low P/E provides some valuation support but is not enough to offset the operational and trend risks.
Positive Factors
In-house 4nm ASIC capability
Achieving first-pass silicon on a 4nm BT1 ASIC indicates deep internal chip design and manufacturing expertise. This vertical technology capability can deliver lasting cost, efficiency and product-differentiation advantages, supporting sustained competitiveness in ASIC-driven mining and third-party design services.
Negative Factors
Revenue collapse & net loss
A ~78% revenue drop and a large 2025 net loss mark a structural weakening in core sales and earnings power. Such a severe top-line contraction impairs ability to sustain fixed-cost investments and R&D, increases the need for strategic repositioning, and raises the bar for returning to prior profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
In-house 4nm ASIC capability
Achieving first-pass silicon on a 4nm BT1 ASIC indicates deep internal chip design and manufacturing expertise. This vertical technology capability can deliver lasting cost, efficiency and product-differentiation advantages, supporting sustained competitiveness in ASIC-driven mining and third-party design services.
Read all positive factors
Bgin Blockchain Ltd. Class A (BGIN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$199.12M
Dividend YieldN/A
Average Volume (3M)53.66K
Price to Earnings (P/E)3.0
Beta (1Y)1.95
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees109
SectorTechnology
Sector Strength88
IndustryComputer Hardware
Share Statistics
EPS (TTM)N/A
Shares Outstanding90,581,566
10 Day Avg. Volume38,464
30 Day Avg. Volume53,665
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)5.21
Price to Sales (P/S)4.21
P/FCF Ratio-1.66
Enterprise Value/Market Cap0.63
Enterprise Value/Revenue6.36
Enterprise Value/Gross Profit-1.81
Enterprise Value/Ebitda-1.70
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Bgin Blockchain Ltd. Class A Business Overview & Revenue Model
Company Description
Bgin Blockchain Limited, through its subsidiaries, operates as a digital asset technology company in Singapore, Hong Kong, the United States, and rest of Southeast Asia. It produces cryptocurrencies through its mining operations. The company also ...
Bgin Blockchain Ltd. Class A Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
14
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 67.40M | 302.28M | 257.27M | 15.05M | 21.52M |
| Gross Profit | -75.59M | 127.69M | 199.17M | 8.93M | 14.87M |
| EBITDA | -89.00M | 113.11M | 176.32M | 1.63M | 12.21M |
| Net Income | -176.86M | 65.93M | 139.71M | -220.38K | 7.71M |
Balance Sheet | |||||
| Total Assets | 92.84M | 270.79M | 191.67M | 11.89M | 15.05M |
| Cash, Cash Equivalents and Short-Term Investments | 26.29M | 114.80M | 46.70M | 601.73K | 3.65M |
| Total Debt | 219.80K | 445.40K | 348.02K | 0.00 | 0.00 |
| Total Liabilities | 38.09M | 60.73M | 42.75M | 2.77M | 5.37M |
| Stockholders Equity | 54.49M | 209.71M | 148.78M | 9.03M | 9.67M |
Cash Flow | |||||
| Free Cash Flow | -171.08M | -212.31M | -37.97M | -17.94M | -10.38M |
| Operating Cash Flow | -166.90M | -199.34M | -31.29M | -12.74M | -6.20M |
| Investing Cash Flow | 55.55M | 267.98M | 77.74M | 9.65M | 10.75M |
| Financing Cash Flow | 22.83M | -538.69K | -361.58K | 350.12K | -963.12K |
Bgin Blockchain Ltd. Class A Risk Analysis
Bgin Blockchain Ltd. Class A disclosed 101 risk factors in its most recent earnings report. Bgin Blockchain Ltd. Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Bgin Blockchain Ltd. Class A Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | $8.89B | -20.89 | -44.05% | ― | -41.75% | -87.41% | |
53 Neutral | $2.19B | -35.33 | -3.55% | ― | 1025.71% | 42.03% | |
52 Neutral | $19.88B | 593.67 | 9.08% | ― | 334.58% | ― | |
46 Neutral | $207.37M | -0.82 | -55.85% | ― | 61.11% | 66.24% | |
46 Neutral | $14.27M | -1.00 | -7.04% | ― | 11.39% | 30.41% | |
44 Neutral | $199.12M | 3.03 | 36.78% | ― | ― | ― |
* Technology Sector Average
BGIN
Bgin Blockchain Ltd. Class A
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-56.01%
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Bgin Blockchain Ltd. Class A Corporate Events
Bgin Blockchain Revamps Finance Leadership, Names New Co-CFO
Jun 5, 2026
On June 5, 2026, Bgin Blockchain Ltd. announced a reshuffle of its senior finance leadership, signaling a refinement of its governance and reporting structure. The board accepted the resignation of Pengju Wang from his role as Co-Chief Financial O...
BGIN Blockchain Launches ASIC Customization Unit and Delivers First 3,000 Mining Rigs
May 26, 2026
On May 26, 2026, BGIN Blockchain Ltd. announced it has launched an ASIC Chip Customization Solutions business, opening its long-standing chip design and hardware engineering capabilities to third-party customers for the first time. This expansion ...
BGIN Blockchain Swings to 2025 Loss as It Pivots to Bitcoin, Secures 4nm Chip and Recovers U.S. Miners
Apr 24, 2026
BGIN Blockchain Limited reported unaudited financial results for the year ended December 31, 2025, showing revenue plunging to US$67.4 million from US$302.3 million in 2024 and a swing to a net loss of US$177.0 million from prior-year net income o...
BGIN Blockchain Sets April 24, 2026 Date for FY2025 Earnings Call
Apr 17, 2026
BGIN Blockchain Limited, a Singapore-headquartered digital asset technology firm that designs and manufactures ICERIVER-branded cryptocurrency mining machines and provides mining infrastructure and hosting services, continues to focus on making cr...
BGIN Blockchain Recovers All Mining Machines After U.S. Hosting Dispute Settlement
Apr 13, 2026
On April 13, 2026, BGIN Blockchain Limited reported that it has fully resolved a hosting dispute involving its U.S. subsidiary BGIN Infrastructure, former hosting service provider Krypton Technologies, and landlord Mawson Hosting. The conflict ori...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.