Bitmine Immersion Technologies reported a $6.3 billion net loss for the fiscal year ended Aug. 31, 2026, compared with a $348.6 million profit the previous year. According to its Form 10-K, filed after the market closed on Tuesday, the result included a $6.2 billion unrealized loss on digital assets, driven largely by falling Ether (ETH) prices.
At fiscal year-end, Bitmine reported $15.4 billion in assets and $33.7 million in liabilities. Its holdings included 5.9 million ETH valued at $14.6 billion, $545 million in cash and cash equivalents, 211 Bitcoin valued at $16.6 million, $186 million in Beast Industries shares and $77 million in Eightco Holdings shares. Revenue was $124.8 million, above the $119.8 million average analyst estimate listed by Yahoo Finance. Staking and validation contributed $121.4 million, or 97% of revenue.
In a Monday update reported by Cointelegraph, Bitmine said its Ether holdings had grown to 6.07 million ETH, or 4.97% of supply. It estimated $309 million in annualized rewards from 5.23 million staked ETH. That later holdings figure should not be confused with the fiscal year-end balance. Bitmine Chairman Tom Lee had called 5% of Ether’s supply a “hard cap” for the company’s holdings during an Oct. 7 keynote at Token2049 in Singapore.
Bitmine shares closed Tuesday down 2.8% at $18.08, bringing their year-to-date decline to 33%, according to Yahoo Finance. Because the 10-K was filed after the close, that session’s share-price move should not be attributed to the filing.
Source: cointelegraph.com (originally published 2026-11-11 17:58 UTC+8)
