Bitmine posts $6.3B net loss for fiscal 2026 as Ether prices slide

Latest NewsPublishedNov 11, 2026

Bitmine Immersion Technologies reported a $6.3 cardinal nett nonaccomplishment for the fiscal twelvemonth ended Aug. 31, driven mostly by falling Ether (ETH) prices.

The institution recorded a $6.2 cardinal unrealized nonaccomplishment connected its integer assets, according to the Form 10-K it filed Tuesday. Bitmine posted a $348.6 cardinal nett net the erstwhile fiscal year.

Bitmine reported $15.4 cardinal successful full assets and $33.7 cardinal successful liabilities astatine fiscal year-end. It held 5.9 cardinal Ether worthy $14.6 billion. Assets besides included $545 cardinal successful currency and currency equivalents, 211 Bitcoin (BTC) valued astatine $16.6 million, $186 cardinal successful Beast Industries shares and $77 cardinal successful Eightco Holdings shares.

Bitmine’s gross totaled $124.8 million, supra the $119.8 cardinal mean expert estimation listed by Yahoo Finance. Staking and validation accounted for $121.4 million, oregon 97% of revenue.

Bitmine shares closed 2.8% little astatine $18.08 connected Tuesday, bringing their year-to-date diminution to 33%, according to Yahoo Finance. The institution filed the 10-K aft the marketplace closed.

Bitmine, the largest firm Ether holder, said successful a Monday update that its holdings grew to 6.07 cardinal ETH, oregon 4.97% of the supply. It estimated $309 cardinal successful annualized rewards connected the 5.23 cardinal ETH it had staked.

During a keynote astatine Token2049 successful Singapore connected Oct. 7, Bitmine Chairman Tom Lee called 5% of Ether’s proviso a “hard cap” for the company’s holdings.

Related: Bitmine buys 28k ETH, completes 97% of treasury accumulation goal