Bitmine reported a quarterly net loss of over $3.8 billion, primarily due to unrealized losses on Ethereum (ETH).

CoinFeed reported on April 15th that, according to The Block, Ethereum treasury company Bitmine Immersion Technologies released its quarterly financial report, showing a net loss of $3.82 billion for the quarter ending February 28, 2026, far exceeding the $1.15 million loss in the same period last year. This loss was primarily driven by unrealized losses of $3.78 billion in its digital asset holdings. The net loss for the six months exceeded $9 billion. As of April 12th, Bitmine held 4.87 million ETH, worth approximately $10.7 billion, with an average purchase price of $2,206 per ETH, representing 4.04% of the total Ethereum supply, with a target of 5%. Bitmine is currently the world's largest enterprise Ethereum treasury, second only to Strategy among enterprise crypto treasuries.