Bitmine’s quarterly net loss reaches $3.8 billion, holding over 4% of the global Ethereum supply

According to The Block, Ethereum asset management firm Bitmine reported a net loss of $3.8 billion for the quarter ended February 28, 2026, primarily due to unrealized losses on its digital assets. As of April 12, Bitmine held 4.87 million ETH—approximately 4.04% of the global Ethereum supply—with an average purchase price of $2,206 per ETH; its target is to control 5% of the global Ethereum supply. The company’s report states that quarterly revenue totaled $11.04 million, of which approximately $10 million came from Ethereum staking rewards. Bitmine has staked 3.33 million ETH—68% of its total holdings—with an estimated annualized revenue of $212 million. Additionally, the company holds $719 million in cash, 198 BTC, and investments in Beast Industries and Eightco Holdings.