Net loss of approximately $6.313 billion, BitMine discloses fiscal year results

Odaily reports: In its 10-K annual report filed with the U.S. Securities and Exchange Commission, BitMine disclosed a net loss of approximately $6.313 billion for the fiscal year ended August 31, 2026, compared with net income of $349 million in the prior fiscal year. The loss was primarily driven by fair value changes in digital assets, with approximately $6.229 billion in unrealized losses on digital assets recorded for the full year, mainly due to a decline in the fair value of ETH. The company's full-year revenue was approximately $125 million, of which staking and validation operations contributed approximately $121 million, accounting for about 97% of total revenue. As of the end of the fiscal year, BitMine held 5.9018 million ETH and 211 BTC, with an ETH cost basis of approximately $19.948 billion and a period-end fair value of approximately $14.559 billion. According to the holdings update BitMine released on November 9, as of November 8, the company's ETH holdings had increased to 6.0701 million ETH, representing approximately 4.97% of the ETH supply, of which 5.2270 million ETH had been staked.