BitMine Reports $6.31 Billion Net Loss for Fiscal 2026 on Unrealized Digital-Asset Losses

Huo Xing Finance reported that BitMine (BMNR), an Ethereum treasury company, disclosed in its Form 10-K annual report that it recorded a net loss of about $6.313 billion for the fiscal year ended Aug. 31, 2026, compared with net income of $349 million in the prior fiscal year. The loss was driven mainly by fair-value changes in digital assets. BitMine booked about $6.229 billion in unrealized losses on digital assets for the year, largely reflecting a decline in the fair value of ETH. Total revenue for the year was about $125 million. Staking and validation services generated about $121 million, or roughly 97% of total revenue. As of fiscal year-end, the company held 5,901,837 ETH and 211 BTC. The aggregate cost basis of its ETH was about $19.948 billion, with a period-end fair value of about $14.559 billion. A position update released Nov. 9 showed that, as of Nov. 8, its ETH holdings had increased to 6,070,092 ETH, about 4.97% of ETH supply, of which 5,227,037 ETH were staked.