Update
Bitmine Reports $6.3B Net Loss in Fiscal Year 2026
Bitmine Immersion Technologies reported a $6.3 billion net loss for the fiscal year ended August 31, primarily due to falling Ether (ETH) prices. The company recorded a $6.2 billion unrealized loss on its digital assets. Bitmine's revenue was $124.8 million, above the $119.8 million average analyst estimate. The company held 6.07 million ETH, or 4.97% of the Ether supply, and estimated $309 million in annualized rewards on the staked ETH. Bitmine's shares closed at $18.08, down 2.8% from the previous day.