🚨 BITMINE: $6.3 BILLION LOSS. STILL BUYING ETH?
BitMine just reported a staggering $6.3 billion net loss for fiscal 2026. But here’s what matters: $6.23 billion of that came from unrealized losses as ETH prices dropped nearly 44%.
At August 31, the company held 5.9 million ETH worth approximately $14.6 billion. Its latest holdings have since climbed above 6 million ETH, representing almost 5% of Ethereum’s total supply.
There’s another interesting detail: staking generated 97% of its annual revenue, around $121.4 million.
#BitMineReports$6.3BNetLossForFiscal2026
So is this a failed strategy or simply the downside of an aggressive long-term ETH bet?
One thing is clear: BitMine isn’t backing away from Ethereum. But its future is now heavily tied to ETH’s price performance.
DYOR.
BitMine just reported a staggering $6.3 billion net loss for fiscal 2026. But here’s what matters: $6.23 billion of that came from unrealized losses as ETH prices dropped nearly 44%.
At August 31, the company held 5.9 million ETH worth approximately $14.6 billion. Its latest holdings have since climbed above 6 million ETH, representing almost 5% of Ethereum’s total supply.
There’s another interesting detail: staking generated 97% of its annual revenue, around $121.4 million.
#BitMineReports$6.3BNetLossForFiscal2026
So is this a failed strategy or simply the downside of an aggressive long-term ETH bet?
One thing is clear: BitMine isn’t backing away from Ethereum. But its future is now heavily tied to ETH’s price performance.
DYOR.
