Bitmine Immersion Technologies posted a $6.313 billion net loss for the fiscal year ending Aug. 31, mainly due to $6.229 billion in unrealized losses on its Ether holdings as the cryptocurrency's price fell 43%. This loss reversed a $328 million profit from the previous year. The company holds nearly 5.9 million ETH, valued at $14.559 billion against a $19.948 billion cost basis, reflecting an average purchase price of about $3,380 per ETH compared to a year-end price of $2,467. Bitmine's revenue was $124.8 million, mostly from staking and validator services, while mining revenue dropped significantly. The next quarter ends Nov. 30.
Bitmine's $6.3 billion fiscal-year loss due to Ether's 43% price drop provides context for cryptocurrency market volatility. For readers following major cryptocurrencies, here is Pluang's market snapshot as of Nov 12, 2026 07:32 WIB: out of 50 major cryptocurrencies, 18 rose and 31 fell. Notable movers include XTZ (Tezos) at Rp4,326 with a 2.94% decline and 99% sell order activity, SAND (The Sandbox) at Rp753 down 2.79% with 75% sell orders, and ZIL (Zilliqa) at Rp28 down 2.45% with 85% buy orders.
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