Bitmine reports quarterly net loss of 3.8 billions USD, holds over 4% of global Ethereum supply

Bitmine reported a net loss of 3.8 billion US dollars for the quarter ended February 28, 2026, mainly due to unrealized losses on digital assets. As of April 12, Bitmine held 4.87 million Ethereum, accounting for 4.04% of the global supply, with an average purchase price of 2,206 US dollars per Ethereum, aiming to control 5% of the global supply. Quarterly revenue reached 11.04 million US dollars, of which approximately 10 million US dollars came from Ethereum staking rewards. A total of 3.33 million Ethereum have been staked, representing 68% of total holdings, with an expected annualized income of 212 million US dollars. The company also holds 719 million US dollars in cash, 198 Bitcoin, and has invested in Beast Industries and Eightco Holdings.