BitMine Revenue Jumps 22x Even as It Posts $9 Billion Net Loss

BitMine Immersion Technologies posted revenue of $46.5 million in the three months ended May 31, a 22x jump from a year earlier, even as a $9.1 billion nine-month net loss dominated its latest filing. The loss stems almost entirely from a non-cash markdown on the company’s Ethereum (ETH) holdings. Underneath it, BitMine’s staking business scaled The post BitMine Revenue Jumps 22x Even as It Posts $9 Billion Net Loss appeared first on BeInCrypto.