Bitmine Immersion Technologies disclosed a net loss of $6.3 billion for the fiscal year ended August 31, 2026, according to its Form 10‑K filed on Tuesday. The loss was largely attributed to a $6.2 billion unrealized loss on its digital‑asset portfolio as Ether (ETH) prices fell.
The company reported total assets of $15.4 billion and liabilities of $33.7 million at year‑end. Its digital‑asset holdings included 5.9 million ETH valued at approximately $14.6 billion, 211 Bitcoin (BTC) worth $16.6 million, $545 million in cash and cash equivalents, $186 million in Beast Industries shares, and $77 million in Eightco Holdings shares.
Revenue for the period was $124.8 million, slightly above the $119.8 million average analyst estimate reported by Yahoo Finance. Staking and validation activities generated $121.4 million, representing 97 % of total revenue.
Ether holdings and staking rewards
Bitmine confirmed that its Ether holdings increased to 6.07 million ETH, representing 4.97 % of the total Ether supply, making it the largest corporate Ether holder. The firm estimated annualized staking rewards of $309 million on the 5.23 million ETH it had staked.
Share performance
Following the filing, Bitmine shares closed 2.8 % lower at $18.08, extending a year‑to‑date decline of 33 %.
Management commentary
During a keynote at Token2049 in Singapore on Oct. 7, Chairman Tom Lee described a 5 % share of Ether’s supply as a “hard cap” for the company’s holdings.
