Gate News message, April 15 — Bitmine Immersion Technologies (BMNR) reported a net loss of $3.82 billion for the quarter ending February 28, 2026, according to its latest 10-Q filing (quarterly earnings report). This represents a dramatic increase from losses of $1.15 million during the same period a year earlier, driven primarily by $3.78 billion in unrealized losses on its digital asset holdings. Over a six-month period, cumulative losses exceeded $9 billion.
Despite the losses, BMNR continues its aggressive Ethereum accumulation strategy, now holding approximately 4.87 million ETH valued at around $10.7 billion, making it the largest corporate Ethereum holder globally. The company’s average acquisition price stands at $2,206 per ETH. Quarterly revenue surged to $11.04 million, up sharply from $1.5 million a year earlier, with the majority coming from staking rewards. With over 68% of its ETH holdings staked, the company projects annualized revenue of approximately $212 million based on current yield levels. Chairman Tom Lee stated the firm views current market conditions as an opportunity and believes Ethereum is approaching the end of a “mini crypto winter.”
BMNR stock closed down 0.14% at $21.48 on the day, showing a relatively muted reaction to the earnings report.
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