BitMine reported a $6.3 billion net loss for the fiscal year ending August 2026, despite revenue surging nearly 1,900% to $124.81 million.
The main reason? Ethereum’s price decline.
$ETH fell roughly 44%, from around $4,300 to $2,400, triggering a $6.23 billion unrealized loss on Bitmine’s holdings under fair-value accounting rules.
But Bitmine's Ethereum strategy continues:
$ETH holdings: 6.07 million ETH.
Supply share: Approximately 4.97%.
Staking: More than 86% of its ETH is staked.
Revenue growth: Primarily driven by staking income.
Chairman Tom Lee says purchases will stop once Bitmine re