Tom Lee's BitMine booked a $6.3B net loss for its fiscal year, almost all of it from ETH's price drop.
• Net loss of about $6.3B for the year ended Aug. 31, after a profit a year earlier
• About $6.2B came from unrealized losses on its ETH holdings
• It held 5,901,837 ETH worth about $14.6B; staking made up about 97% of revenue
Why it matters: As the largest public ETH treasury, BitMine shows how ETH swings now hit corporate earnings.
Source: BitMine Form 10-K (via TradingView filing summary)
Not financial advice.
💬 Do ETH treasury companies help or hurt ETH in a downturn?
$ETH #BitMine #Ethereum
• Net loss of about $6.3B for the year ended Aug. 31, after a profit a year earlier
• About $6.2B came from unrealized losses on its ETH holdings
• It held 5,901,837 ETH worth about $14.6B; staking made up about 97% of revenue
Why it matters: As the largest public ETH treasury, BitMine shows how ETH swings now hit corporate earnings.
Source: BitMine Form 10-K (via TradingView filing summary)
Not financial advice.
💬 Do ETH treasury companies help or hurt ETH in a downturn?
$ETH #BitMine #Ethereum