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Crypto

BitMine posts big quarterly loss after Ethereum valuation hit

BitMine Immersion Technologies posted a net loss of $3.82 billion in fiscal 2026 second quarter due to valuation losses on its Ethereum holdings, compared with a $1.16 million loss a year earlier. Most of the deficit came from $3.78 billion in unrealised losses. Revenue rose to $11 million, led by Ethereum staking income. The company raised about $1.00 billion through stock sales and expanded its Ethereum holdings to about 4.87 million tokens.

Crypto

Strategy touts \'BTC profit of $1.3 billion\' but is it separate from shareholder returns?

Strategy said it generated 17,585 BTC of “BTC Gain” in the first two weeks of April, which Chairman Michael Saylor valued at $1.3 billion. The figure is a company-defined non-GAAP metric that differs from actual net income. It reflects bitcoin holdings growth adjusted for share dilution and does not show cash flow, accounting profit or preferred dividends. Strategy’s bitcoin portfolio remains slightly underwater at current prices.

Crypto

Strategy\'s 762,099 BTC value disputed: $20 billion sale vs $100 billion repurchase

A debate has widened over the real disposal value of Strategy\'s 762,099 bitcoin, valued at about $51.5 billion on paper. Some argue a large-scale sale would hit liquidity limits and recover no more than $20 billion, while others say the cost to acquire the same amount in the open market could exceed $50 billion and possibly reach $100 billion due to slippage. Analysts also cite conflicting mNAV metrics and differing views on dilution.