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Bitmine Immersion Technologies records $6.31 billion net loss due to falling Ethereum prices

Stocktwits +1 · ·by G4L

BMNR
BMNR BitMine Immersion Technologies Inc
$18.08 -2.85%
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  1. 1Bitmine recorded a net loss of $6.31 billion for the fiscal year ended August 31.
  2. 2Bitmine incurred $6.23 billion in unrealized cryptocurrency losses.
  3. 3The value of Bitmine's ETH holdings was $14.6 billion at the end of August.

So what's the key point?

Bitmine Immersion Technologies suffered a $6.31 billion loss as Ethereum prices fell. The company experienced a large loss because the value of its cryptocurrency holdings decreased.

Source Stocktwits +1 · View original ↗

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