Bgin Blockchain Limited (BGIN)

Nasdaq: BGIN · Finance Services · filing with the SEC since 2022

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Grade5.3

◀ Past 7.1● Present 3.7▶ Future 4.5

2 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Bgin Blockchain Limited

Nine metrics read from its own filings, by tense

Headline grade

5.3/10

◀ Past7.140% of the headline

● Present3.735% of the headline

▶ Future4.525% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

7.1/1040% of the headline grade · 3 of 3 filed

Surviving crises

as filed

8.4/10

Has it survived what it has been through?

No warning events in its filings since 2022.

weight 45% of this tense · 84th percentile among 130 sector filers · read for itself

From the record

Bgin Blockchain Limited's filings since 2022 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

3.5/10

What has it actually done, year after year?

-48.8% a year over 3 filed years; profitable in 2 of 3.

weight 22% of this tense · 35th percentile among 104 sector filers · read for its customers

From the record

Bgin Blockchain Limited's 3 filed years say what it did: revenue went from $257 million in fiscal 2023 to $67 million in fiscal 2025, down 48.8% a year; it rose in 1 of 2 years; the deepest fall was 78% from fiscal 2024 to fiscal 2025; net income was positive in 2 of 3 of those years (its annual reports).

What it rests on

revenue growth over the filed span-48.8%bottom 3% of its family
the share of years revenue rosebottom 36% of its family
the share of filed years with a profittop 24% of its family
the deepest fall from a revenue peak77.7%bottom 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed

7.8/10

How has it treated the people who own it?

Share count grew 0.6% a year. 14% of cash flow returned. Insiders: 0 sales, 0 purchases.

weight 33% of this tense · 78th percentile among 53 sector filers · read for its shareholders

From the record

Over the 2 fiscal years to 2025-12-31, Bgin Blockchain Limited's diluted share count grew about 0.6% a year, and dividends and buybacks returned about 14% of its net income over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

the share count over the yearstop 20% of its family
cash returned against operating cash flowtop 23% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

3.7/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

3.6/10

Is it financially healthy right now?

ROE -323%: lost 323¢ per shareholder dollar. Leverage 41%: owes 41¢ per asset dollar.

weight 45% of this tense · 36th percentile among 117 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Bgin Blockchain Limited lost about 323 cents for every dollar of shareholders' money, and gross profitability: its products earned less than nothing, about minus 81 cents per dollar of everything the company owns. Leverage: it owed about 41 cents per dollar of assets, and net share issuance: its share count grew 1.2% over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 43% of its family
return on equitybottom 5% of its family
gross profit against assetsbottom 1% of its family
the share count against the year beforetop 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

2.8/10

How strong is its position in its industry?

bottom 28% of 114 in its family; net margin -262.6%.

weight 33% of this tense · 28th percentile among 114 sector filers · read for its customers

From the record

Bgin Blockchain Limited's standing among 114 graded names in its industry family: revenue of $67 million in fiscal 2025 ranks in the bottom 48% by size; a net margin of -262.6% ranks in the bottom 28%; revenue growth of -48.8% a year over the last 2 filed years ranks in the bottom 7% (its annual reports).

What it rests on

revenue against the family$67.4Mbottom 48% of its family
net margin-262.6%bottom 28% of its family
three-year revenue growth-48.8%bottom 7% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

5.5/10

What are the people in charge doing?

SI estimate 5.5/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 74 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 74 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 74 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Bgin Blockchain Limited's leadership is put at 5.5 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 74 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.5/1025% of the headline grade · 2 of 3 filed, 1 estimated

Room to expand

as filed

4.3/10

How much room does it have to grow?

bottom 43% of 108 in its family for room to expand.

weight 33% of this tense · 43rd percentile among 108 sector filers · read for itself

From the record

Bgin Blockchain Limited's room to grow, from the newest filed statements (fiscal 2025): cash of $26 million against no long-term debt tagged leaves 28.3% of its assets as net cash, top 15% of its family; cash from operations less capital spending is -253.8% of revenue (bottom 18%); a gross margin of -112.2% (bottom 1%); research spending of 30% of revenue (top 32%) (its annual report).

What it rests on

cash less debt against assets28.3%top 15% of its family
cash from operations less capital spending against revenue-253.8%bottom 18% of its family
gross margin-112.2%bottom 1% of its family
research spending against revenue30.0%top 32% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

4.3/10

What could actually drive growth from here?

bottom 43% of 100 in its family for growth drivers.

weight 33% of this tense · 43rd percentile among 100 sector filers · read for its customers

From the record

Bgin Blockchain Limited's growth drivers, from the filed years to fiscal 2025: revenue grew -48.8% a year over the last three filed years against -48.8% over all 3, speeding up (top 42% of its family); the newest year grew -77.7% (bottom 5%); research spending grew 41.4% a year (top 23%); capital spending grew -20.9% a year (bottom 33%) (its annual reports). Bgin Blockchain Limited reported 3 lines of business in fiscal 2025: Cryptocurrency Mining at $49 million (72%), Sale of Mining Machines at $15 million (23%), All Other at $3 million (5%); 0 of 3 grew against the year before (its annual report).

What it rests on

three-year growth against the whole span+0.0 points a yeartop 42% of its family
the newest year's revenue growth-77.7%bottom 5% of its family
three-year growth of research spending41.4%top 23% of its family
three-year growth of capital spending-20.9%bottom 33% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

SI estimate

4.8/10

Did its newest year beat what its own record pointed to?

SI estimate 4.8/10, confidence 20 of 100 (family median).

weight 33% of this tense · 50th percentile among 78 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 78 members with one.
What the record cannot read: The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change.
How it was reasoned: family median, 78 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Bgin Blockchain Limited's expectations vs reality is put at 4.8 of 10 with a confidence of 20 of 100, because the record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 78 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton BGIN · research, not advice