Bitmine Reports $3.8 Billion Loss As Ethereum Sinks

6 days ago 5

CryptoProwl

Wed, April 15, 2026 astatine 7:50 AM CDT 1 min read

Bitmine Reports $3.8 Billion Loss As Ethereum Sinks

Ethereum (CRYPTO: $ETH) treasury institution Bitmine Immersion Technologies (NYSE: $BMNR) has reported a $3.8 cardinal U.S. quarterly nonaccomplishment arsenic the crypto wintertime continues.

The company, led by capitalist Tom Lee, has struggled arsenic the terms of Ethereum remains volatile and is trading astatine fractional its level from past summer.

Bitmine presently holds 4.87 cardinal ETH astatine an mean outgo of $2,206 U.S. per token, making it the world’s largest firm proprietor of the cryptocurrency.

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Ethereum was trading adjacent $2,325 U.S. connected April 15, astir 5% supra Bitmine's $2,206 U.S. mean price. However, the terms has been beneath $1,800 U.S. successful caller months.

The $3.8 cardinal U.S. successful unrealized losses connected Bitmine’s income connection reflects fair-value accounting, which marks holdings to marketplace each period.

Bitmine presently has a insubstantial nonaccomplishment connected its Ethereum holdings adjacent though the presumption remains successful nett connected a outgo basis.

The institution has turned itself into the Ethereum mentation of Michael Saylor’s Strategy (NASDAQ: $MSTR), which is the world’s largest firm proprietor of Bitcoin.

Bitmine presently owns 5% of each the ETH successful existence. In caller months, the institution has pivoted from mining Ethereum to staking and earning rewards connected its ETH holdings.

In its latest reporting, Bitmine said that staking generated $10.2 cardinal U.S. of the company's $11 cardinal U.S. successful quarterly revenue.

BMNR banal has declined 31% this twelvemonth to commercialized astatine $21.48 U.S. per share.

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