BitMine reported a net loss of approximately $6.313 billion for the fiscal year ended August 31, 2026, compared with net income of $349 million the previous year. According to its 10-K filing, the main driver was approximately $6.229 billion in unrealized digital-asset losses, primarily reflecting a decline in the fair value of ETH. That distinction matters: a change in the reported value of holdings is not the same measure as revenue from operations.
Annual revenue was approximately $125 million, of which staking and validation contributed about $121 million, or 97%. At the fiscal year-end, BitMine held 5.9018 million ETH and 211 BTC. Its ETH holdings had a cost basis of approximately $19.948 billion and a period-end fair value of approximately $14.559 billion.
The holdings figure has a later measurement date: as of November 8, BitMine held 6.0701 million ETH, approximately 4.97% of ETH supply, with 5.227 million ETH staked. The fiscal-year earnings figures and the November 8 holdings snapshot should not be treated as if they were measured on the same date. These figures describe asset exposure and operating revenue, but do not by themselves establish a valuation for BitMine.
Original report: PANews, published November 11, 2026, at 17:17 UTC+8.