Bitmine posts $6.3B net loss for fiscal 2026 as Ether prices slide
Bitmine booked $6.2 billion in unrealized losses on digital assets. It held 6.07 million ETH on Sunday, or 4.97% of Ether’s supply.
Bitmine, the largest corporate holder of Ether, announced a $6.3 billion net loss for the fiscal year ending August 31, 2026, due to a significant drop in Ether prices. The company's total assets amounted to $15.4 billion, while its liabilities were recorded at $33.7 million. Bitmine held 6.07 million ETH, which constituted 4.97% of Ether's total supply as of Sunday.
The company's revenue reached $124.8 million, surpassing the average analyst estimate of $119.8 million. Bitmine's earnings primarily came from staking and validation, which accounted for $121.4 million, or 97% of the total revenue. The company's Chairman, Tom Lee, previously stated that holding 5% of Ether's supply is a "hard cap" for the organization.
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