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Tom Lee's BitMine posts $6.3 billion net loss for fiscal 2026 as ether drops

BitMine reported a $6.3 billion net loss for the fiscal year ended Aug. 31, 2026, driven by an ether price slump that hit the firm's massive cryptocurrency holdings.

Portrait of Tom Lee wearing glasses, a suit with a green tie, and a BMNR lapel pin.
Image: @TheBlockCo

BitMine reported a net loss of $6.3 billion for the fiscal year ended Aug. 31, 2026, weighed down by ether's sharp downturn, according to reports from The Block and Cointelegraph. The company, associated with Tom Lee and trading under the ticker BMNR, incurred significant unrealized losses across its balance sheet as token prices slid over the fiscal period.[1][2][3]

By the end of August, BitMine held roughly 5.9 million ETH, representing approximately 4.9% of the circulating supply. The firm had significantly expanded its reserves during the fiscal year, acquiring around 3.97 million ETH. However, ether dropped around 44% across the annual period, sliding from roughly $4,390 to about $2,466.[1][3]

Key facts

  • BitMine reported a $6.3 billion net loss for the fiscal year ended Aug. 31, 2026.
  • The loss was driven by ether's decline and unrealized losses on the company's token holdings.
  • BitMine held approximately 5.9 million ETH at the end of August, representing about 4.9% of the circulating supply.
  • The company purchased roughly 3.97 million ETH during the fiscal year.
  • Ether fell roughly 44% over the period, dropping from about $4,390 to about $2,466.
  • BitMine is associated with Tom Lee and trades under ticker symbol BMNR.

Sources · 3 sources

  1. CO

    Cointelegraph@CointelegraphPost on X ·

    ⚡� NOW: Tom Lee’s Bitmine reports a $6.3B net loss for the fiscal year ended Aug. 31, driven by unrealized losses on its ETH holdings as the price fell. The firm holds about 5.9M ETH, roughly 4.9% of the circulating supply. https://t.co/LQfeoFKrqG

    Open source
  2. SI

    Solid Intel 📡@solidintel_xPost on X ·

    INTEL: Tom Lee's BitMine $BMNR posts $6.3 billion annual net loss on Ethereum slump

    Open source
  3. TB

    The Block@TheBlockCoPost on X ·

    THE BLOCK: Tom Lee's Bitmine reported a net loss of $6.3 billion for the fiscal year ended Aug. 31, 2026, primarily driven by ether's decline. As of the end of August, the firm held around 5.9 million ETH, with around 3.97 million ETH purchased during the fiscal year. ethereum:native dropped around 44% during the period, falling from ~$4,390 to ~$2,466. $BMNR

    Open source