THE BLOCK · 2026-11-11 06:22 UTC

Bitmine reports $6.3 billion net loss in latest fiscal year, driven by 44% ether decline

Bitmine reported a net loss of more than $6.3 billion for the fiscal year ended Aug. 31, 2026, versus net income of $348.6 million the prior year. Nearly $6.23 billion of the loss came from unrealized fair value losses on digital asset holdings, as ether fell about 44% from roughly $4,390 to $2,466. As of end-August it held 5,901,837 ETH (fair value $14.6 billion) and 211 BTC, and it said it continues buying ETH, having reached 4.97% of Ethereum's supply.

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