Bitmine Immersion Technologies (BMNR) reported a net loss of more than $6.3 billion for its fiscal year ended August 31, 2026, The Block reported on November 11, citing the company’s annual report. The prior year showed net income of $348.6 million.
According to The Block, the result was driven mainly by an unrealized loss of nearly $6.23 billion on digital asset holdings under fair value accounting, as ether fell about 44% over the period, from roughly $4,390 to $2,466. The filing is a Form 10-K, so the figure reflects accounting marks, not realized sales.
At the end of August, Bitmine held 5,901,837 ETH with a fair value of $14.6 billion, plus 211 BTC valued at $16.6 million. Revenue for the year was $124.8 million, of which staking and validation made up 97%. The Block noted that lower ether prices also reduced staking revenue, since rewards are paid in ETH.
The company said it sold 395.1 million shares through its at-the-market program, raising $13.2 billion gross, and repurchased 20.8 million shares at an average of $17.
The Block reported that the filing warns fair value accounting will likely keep causing significant volatility in reported results. Separately, Bitmine said earlier this week it had accumulated 6,070,092 ETH, about 4.97% of supply, a holding update that was reported separately.
Track the market yourself with AiTraderView’s FREE tools: Crypto Cockpit for charts and 75+ indicators, Crypto Screener to find setups, and Crypto Portfolio to follow your holdings. Just create a FREE account and try them yourself!
Sources:
⚠️ RISK WARNING & AI DISCLOSURE
- This information is generated by Artificial Intelligence (AI) and complex algorithms. While advanced, these systems can contain errors or inaccuracies and are for educational purposes only.
- Technical analysis provides no guarantees; this information is purely informative.
- All discussed scenarios are hypothetical and do not constitute predictions or expectations.
- Past performance is not an indicator of future results.
- This is not financial advice and is not intended as a call-to-action for the reader.
- No implicit direction is claimed, and no specific behavior of market participants is suggested.