Bitmine announces quarterly financial report: net loss exceeds 3.8 billion USD, mainly due to unrealized losses in ETH

According to The Block, Ethereum asset management company Bitmine reported a net loss of $3.8 billion for the quarter ending February 28, 2026, primarily driven by unrealized losses of $3.78 billion on its digital assets. As of April 12, Bitmine held 4.87 million Ethereum, accounting for approximately 4.04% of the global Ethereum supply, with an average purchase price of $2,206 per coin, aiming to control 5% of the global Ethereum supply.

The company's report showed that the quarterly revenue was $11.04 million, of which about $10 million came from Ethereum staking rewards. Bitmine has staked 3.33 million Ethereum, representing 68% of its total holdings, with an expected annualized income of up to $212 million. In addition, the company holds $719 million in cash, 198 bitcoins, and investments in Beast Industries and Eightco Holdings.