BitMine Posts $6.313B Net Loss for Fiscal 2026, Driven Mainly by Unrealized Digital Asset Losses

November 11: In its 10-K annual report filed with the U.S. Securities and Exchange Commission, BitMine disclosed a net loss of approximately $6.313 billion for the fiscal year ended August 31, 2026, compared with net income of $349 million in the prior fiscal year. The loss stemmed mainly from changes in the fair value of digital assets, with approximately $6.229 billion in unrealized digital asset losses recorded for the full year, primarily due to a decline in the fair value of ETH.

The company reported full-year revenue of approximately $125 million, of which staking and validation operations contributed about $121 million, or roughly 97% of total revenue. As of the end of the fiscal year, BitMine held 5.9018 million ETH and 211 BTC, with an ETH cost basis of approximately $19.948 billion and a period-end fair value of approximately $14.559 billion. According to the holdings update BitMine published on November 9, the company's ETH holdings had increased to 6.0701 million as of November 8, accounting for roughly 4.97% of the ETH supply, of which 5.227 million ETH had been staked.