Bitmine posts $6.3B net loss for fiscal 2026 as Ether prices slide

Bitmine Immersion Technologies reported a $6.3 billion net loss for the fiscal year ended Aug. 31, driven largely by falling Ether (ETH) prices.

The company recorded a $6.2 billion unrealized loss on its digital assets, according to the Form 10-K it filed Tuesday. Bitmine posted a $348.6 million net profit the previous fiscal year.

Bitmine reported $15.4 billion in total assets and $33.7 million in liabilities at fiscal year-end. It held 5.9 million Ether worth $14.6 billion. Assets also included $545 million in cash and cash equivalents, 211 Bitcoin (BTC) valued at $16.6 million, $186 million in Beast Industries shares and $77 million in Eightco Holdings shares.