BitMine Immersion Technologies reported third-quarter revenue of $46.5 million for the period ending May 31, 2026. The company posted a loss of $0.15 per share. These results missed analyst expectations of $77.45 million in revenue and $0.125 in earnings per share.
Quarterly revenue increased from $2.1 million reported in the same period last year. A strategic shift to Ethereum staking and validation generated $45.7 million of the total revenue.
The company reported a net loss of $83.6 million for the quarter. The nine-month net loss reached $9.1 billion. Unrealized losses on digital asset holdings accounted for $9.0 billion of the nine-month total.