BitMine posts a net loss of approximately $6.313 billion for fiscal 2026, primarily weighed down by unrealized losses on digital assets.
11 minutes ago
Ethereum treasury firm BitMine (BMNR) disclosed in its 10-K annual report filed with the U.S. Securities and Exchange Commission (SEC) that for the fiscal year ending August 31, 2026, it posted a net loss of approximately $6.313 billion, compared to a net profit of $349 million in the prior fiscal year. The loss was mainly driven by changes in the fair value of digital assets, with the company recording an unrealized loss of around $6.229 billion on digital assets for the full year, primarily due to a decline in Ethereum (ETH) fair value. BitMine’s full-year revenue stood at roughly $125 million, of which staking and validation operations contributed about $121 million, accounting for approximately 97% of total revenue. As of the end of the fiscal year, the company held 5,901,837 ETH and 211 Bitcoin (BTC), with an ETH holding cost of approximately $19.948 billion and an end-of-period fair value of about $14.559 billion. Additionally, per BitMine’s holdings update released on November 9, as of November 8, the company’s ETH holdings had increased to 6,070,092 tokens, accounting for roughly 4.97% of the total ETH supply, of which 5,227,037 ETH were staked.
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