BitMine Immersion Technologies reported a $6.31 billion net loss for the financial year from Sept. 1, 2025, to Aug. 31, 2026, reversing a $348.6 million profit a year earlier. Most of the loss was a $6.23 billion unrealized charge from revaluing digital assets, not from asset sales. BitMine attributed the change to falling cryptocurrency prices.
Revenue rose to $124.8 million from $6.1 million, with staking and validation operations accounting for $121.4 million, but did not offset the revaluation losses. BitMine warned that a further decline in Ethereum’s price could bring additional unrealized losses.
