Bitmine posted a net loss of USD 83.6 million for the three months ended May 31, 2026, widening from a net loss of USD 623,000 a year earlier.
Revenue climbed to USD 46.54 million from USD 2.05 million, driven by USD 45.74 million from staking and validation following the start of native staking in November 2025.
Operating loss widened to USD 11.87 million from USD 468,000, on general and administrative expenses of USD 37.27 million.
Net results were hit by a USD 92.09 million net loss on derivative contracts, partly offset by a USD 16.49 million gain from warrant liability fair-value changes.
After quarter-end, Bitmine raised USD 273.8 million in net proceeds from a Series A Preferred Stock offering to support its ETH treasury strategy and strategic investments.
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