Bit Origin Limited Class A Ordinary Shares (BTOG)

FairStock Score: 46/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I look first at business quality. Bit Origin is a crypto miner with five employees and a $2.9 million market cap. Mining is commodity-like and capital-intensive, and I see no durable moat from the supplied facts. The stock closed at $1.43 on 2026-09-10. FairStock's price-based measures show a P/E of -0.03 and a P/B of 0.27, so the shares sell below stated book value. But a low P/B can be a trap when returns are deeply negative: the calculated ROE is -319.92% and ROCE is -72.44%. The Piotroski F-Score is 1/9 and the Altman Z-Score is -6.78, both pointing to severe financial distress and poor operating quality. The 52-week range of $0.62 to $25.38 and beta of 1.90 tell me the shares are speculative and volatile. Revenue growth and profit growth are not available, and FairStock's Lynch category is none because there are only 0 years of filed results, so I cannot judge a multi-year earnings record. Graham would demand a stable record and a margin of safety; here the record is absent and the balance-sheet risk signals are flashing. Even at a tiny market cap, I see no evidence of earning power, competitive advantage, or financial strength. The price may look statistically cheap, but the business quality is too poor to call it a bargain.

In plain English: Bit Origin is a tiny Singapore-based crypto mining company with only five employees. The numbers show it is losing money and looks financially weak, with high risk and wild price swings between $0.62 and $25.38 over the past year. Its $2.9 million market value is very small; the shares look cheap compared with stated net worth, but that cheapness reflects a fragile business.

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Data as of 2026-09-10 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer