BitMine reported a net loss of approximately $6.313 billion for its fiscal year ended August 31, 2026, compared with net income of approximately $349 million a year earlier. According to Foresight News, citing the Ethereum treasury company’s November 10 filing with the US SEC, approximately $6.229 billion of the loss came from unrealized losses on digital-asset holdings.
Revenue rose to approximately $125 million from $6.095 million a year earlier. Staking and validation generated approximately $121 million, or about 97% of total revenue. The distinction matters: the reported net loss was driven primarily by changes in the value of holdings, not by a decline in reported revenue.
As of August 31, BitMine held 5,901,837 ETH with a fair value of approximately $14.559 billion—about 4.9% of ETH’s circulating supply at the time. It also held 211 BTC and approximately $545 million in cash and cash equivalents. Those holdings show the scale of the company’s exposure, but the figures alone do not establish what its assets or earnings would be worth later.
Original report, published November 11, 2026, at 09:04 UTC+8.