Bitmine posts $6.3 billion net loss as 44% ether decline hits holdings

Bitmine reported a $6.3 billion net loss for its latest fiscal year, with nearly $6.23 billion of that stemming from unrealized fair value losses on its digital asset holdings, according to its SEC filing. The loss was driven by a 44% decline in ether over the period. The disclosure highlights how heavily crypto-exposed balance sheets can swing on ETH price moves, a risk traders weigh when assessing institutional holders.