BITMINE IMMERSION TECHNOLOGIES, INC. reported results for the quarter ended May 31, 2026, posting revenue of $46.5M driven primarily by ETH staking, while reporting a net loss attributable to common stockholders of $(83.6)M and diluted EPS of $(0.15).
Financial Highlights
- Revenue: $46.5M for the quarter ended May 31, 2026, vs. $2.05M in the year‑ago quarter (2,168% YoY).
- Net income: Net loss attributable to common stockholders of $(83.6)M for the quarter ended May 31, 2026, vs. $(0.623)M in the year‑ago quarter.
- Diluted EPS: $(0.15) for the quarter ended May 31, 2026, vs. $(0.31) in the year‑ago quarter.
Business Highlights
- Revenue growth was driven by staking revenue after the company initiated native ETH staking in November 2025.
- Company pivoted from mining to an asset-light, Ethereum-focused services model emphasizing staking, advisory and treasury management.
- Completed strategic acquisitions, including Pier Two, and pursued moonshot investments to support the ETH strategy.
- Uplisted to the NYSE American and then NYSE; launched ATM and shelf programs to support liquidity and ETH accumulation.
- Reallocated expenses toward custody, cybersecurity, compliance and treasury operations; capital spending remains modest compared with the prior mining-focused era.
Original SEC Filing:
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