BitMine Posts $46.5M Quarterly Revenue, Up 22x Year-Over-Year

BitMine reported $46.5 million in quarterly revenue, a 22-fold increase compared to the same period a year earlier, according to NS3.AI. The company's nine-month net loss of $9.1 billion was almost entirely attributed to an unrealized markdown on digital assets. Staking and validation revenue reached $45.7 million, accounting for approximately 98% of total revenue.