Update
BitMine Reports Quarterly Profit Despite Net Loss
BitMine reported a quarterly profit of $2.8 billion from unrealized gains on its digital assets, despite a full-year net loss of $6.3 billion. The company used $17.5 million in operating cash in the June-August period, despite its calculated quarterly profit. The annual filing shows a $6.3 billion net loss for the year, with the quarterly result being the first measurable for BitMine. The company's accounting policy measures digital assets at fair value, which can increase reported earnings without a corresponding cash receipt.