Bitmine reports $6.3 billion fiscal-year loss as 44% Ethereum decline triggers $6.23 billion in unrealized digital asset losses

Bitmine Immersion Technologies swung from $348.6 million net income a year earlier to a $6.3 billion net loss for the fiscal year ended Aug. 31, 2026, per its SEC Form 10-K. Nearly $6.23 billion came from unrealized fair value losses on digital assets as ether fell roughly 44%, from about $4,390 to $2,466. At fiscal year-end it held 5,901,837 ETH worth $14.6 billion and 211 BTC worth $16.6 million. It raised $13.2 billion gross via at-the-market share sales, repurchased 20.8 million shares, and reported $124.8 million revenue, 97% from staking and validation. It has since accumulated 6,070,092 ETH, near its 5% supply target.

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