BitMine’s Ether Holdings Ended Fiscal Year $5.3 Billion Below Cost

BitMine’s Ether (ETH) holdings were valued at $14.6 billion at fiscal year-end, $5.3 billion below their $19.9 billion purchase cost, showing the size of the company’s year-end valuation gap. The difference is the stated cost minus the year-end value. Against the $19.9 billion cost, the gap equals about 26.6%; the $14.6 billion valuation was about 73.4% of cost. Those percentages compare the two figures and do not measure Ether’s price change over a specified period. That comparison is a snapshot of the position at the fiscal-year cutoff. A value below acquisition cost indicates a paper shortfall, but it does not by itself establish that BitMine sold ETH or realized the entire difference as an accounting loss. The cost and year-end value describe the holding’s value relationship at that point.

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