BitMine posts $2.8B quarterly profit driven by Ethereum gains, but yearly net loss surpasses $6B
Summary
BitMine’s annual filing implies about $2.8 billion in net income for June–August, calculated by subtracting its nine-month results from full-year figures. The gain was driven by roughly $2.8 billion in unrealized digital-asset appreciation, which raised reported earnings without generating equivalent cash. The company still used $17.5 million in operating cash during the quarter. Staking and validation generated an estimated $64.4 million of the quarter’s $64.9 million in revenue.
