BitMine reported a $6.3 billion net loss for the financial year ended August 31, according to its annual report. Unrealized declines in the value of its Ethereum holdings accounted for nearly all of the loss. Staking, however, generated about 97% of the company’s revenue over the same period. This income is now expected to play a larger role in funding BitMine’s new coin purchases as the company prepares to stop buying ETH.
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