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BitMine posts $2.8 billion profit, but yearly loss tops $6 billion

BitMine reported a $2.8 billion quarterly profit from Ethereum gains, but a yearly net loss above $6 billion. Solana Company reported $3.4 million in Q3 revenue, helped by staking rewards.

Illustration: A trader's desk with several screens glowing green, a keyboard and a mug, painted in burnt orange and plum tones.
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BitMine posted a quarterly profit of $2.8 billion, driven by gains on its Ethereum holdings. The result comes from a filing dated November 10 covering June to August. The profit reflects unrealized crypto gains, which are increases in value on coins not yet sold.

Over the same stretch, the company recorded a $17.557 million operating cash outflow, meaning cash spent running its day-to-day business. Across the full year, BitMine reported a net loss of more than $6 billion.

Ether$1,943.40down −22.16%over 1 month
$2,496.59$1,943.4014 Oct13 Nov

Prices by CoinGecko. Past moves say nothing about future ones.

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Solanadown −24.36%1 month

Solana Company reported Q3 revenue of $3.4 million, with income from staking climbing. Staking means locking up tokens to help run a blockchain network in return for rewards.

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