"Bitmine reported a net loss of $3.82 billion for the three months ended Feb. 28, compared to a loss of just $1.15 million in the same period a year earlier. The bulk of the decline stemmed from unrealized losses on digital asset holdings, which accounted for $3.78 billion of the quarterly figure."
"As of April 12, the firm held approximately 4.87 million ETH, valued at about $10.7 billion. That represents just over 4% of the total ether supply, placing Bitmine among the largest corporate holders of the asset."
"Despite the headline losses, Bitmine's operating performance showed signs of growth. Quarterly revenue rose to $11.04 million from $1.5 million a year earlier, driven primarily by staking income."
"Bitmine said it has staked about 3.33 million ETH, or roughly 68% of its total holdings, to generate yield, contributing significantly to its revenue."
Bitmine Immersion Technologies experienced a significant loss of $3.82 billion in Q1 2026, largely attributed to $3.78 billion in unrealized losses from its cryptocurrency holdings. The company's aggressive strategy of accumulating ethereum has resulted in holding approximately 4.87 million ETH, representing over 4% of the total supply. Despite the losses, Bitmine's revenue increased to $11.04 million, with $10 million coming from staking activities. The firm aims to accumulate 5% of ethereum's total supply, indicating a commitment to its investment strategy.
Read at news.bitcoin.com
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