Bitmine posts $6.3B net loss in fiscal 2026 as ETH falls

Bitmine (BMNR) posted a net loss of about $6.313 billion in fiscal 2026, according to its annual 10-K filing with the U.S. SEC. For the fiscal year ended Aug. 31, 2026, the company swung from net income of $349 million a year earlier to a loss. Most of the loss came from changes in the fair value of digital assets. Bitmine recorded about $6.229 billion in unrealized annual valuation losses on digital assets, mainly tied to a decline in Ethereum (ETH). Annual revenue totaled about $125 million, of which roughly $121 million, or about 97%, came from staking and validation operations.