BitMine’s accounts published on November 10 indicate net income of about $2.8 billion for the June-August quarter, derived by subtracting the cumulative nine-month results from the full-year totals. The result was driven primarily by a $2.8 billion unrealized gain arising from the valuation of its digital assets. However, the cumulative unrealized loss narrowed from about $9 billion at the end of May to $6.2 billion for the full year. Despite this earnings rebound, operating activities used $17.5 million in cash during the quarter, while staking and validation revenue reached $64.4 million.
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