BitMine Will Soon Stop Buying ETH. Here’s Where Its New Coins Come From
BitMine posted a $6.3 billion net loss for the year to August 31, according to its annual report. Unrealized drops in the value of its Ethereum (ETH) holdings drove nearly all of it. Yet staking brought in about 97% of BitMine’s revenue over the same period. That income now has to carry more weight, as The post BitMine Will Soon Stop Buying ETH. Here’s Where Its New Coins Come From appeared first on BeInCrypto.
Key Takeaways
- BitMine posted a $6.3 billion net loss for the year to August 31, according to its annual report.
- Unrealized drops in the value of its Ethereum (ETH) holdings drove nearly all of it.
- Yet staking brought in about 97% of BitMine’s revenue over the same period.
Summary generated by IndiCrypto from BeInCrypto. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
More in DeFi
Bitcoin hovers near $74K as stocks rise despite US bond yield rebound
Bitcoin traded in a narrow range as investors bought the dip in tech stocks and US bond yields climbed on high CPI inflation data.
Crypto Long & Short: The GENIUS Act’s guarantees don’t cover DeFi lending
Institutions weighing DeFi lending tend to ask which markets are safest. Mike Hathaway and Joseph Quintilian of Ajna argue the better question is who can change a loan’s terms after the money is lent, and why a fully backed stablecoin offers no protection…
Arca Opens to Everyone, Paying People for the AI Sessions They’d Otherwise Throw Away
After invite-only early access, the desktop app from the team behind Brevis is now open to anyone on Mac and Windows. HONG KONG, November 11, 2026: Arca, a new desktop app from the team behind Brevis, opened to the public today. Arca pays people for the AI…