New York, Jan 13, 2026, 21:27 EST — The market has closed.
- BMNR closed Tuesday up 0.1% at $31.15 and was last seen trading at $31.22 after hours
- The quarterly filing revealed a $5.2 billion net loss, driven largely by a significant unrealized loss on digital assets
- Investors are zeroing in on the Jan. 14 voting deadline and the Jan. 15 annual meeting, where the plan to increase authorized shares will be up for a vote
Shares of BitMine Immersion Technologies Inc barely budged Tuesday, edging up roughly 0.2% after the market closed. The company reported a quarterly net loss of $5.2 billion, largely due to an unrealized loss on digital assets amounting to $5.25 billion. Revenue climbed 91% to $2.3 million. As of Nov. 30, the filing revealed digital assets valued at $10.6 billion, with cash and cash equivalents near $888 million.
The numbers are crucial since BitMine’s operating line is tiny compared to its crypto balance sheet. This shifts the stock’s narrative—and its risk—away from mining and squarely onto the daily fluctuations of digital tokens.
Unrealized losses reflect paper losses from marking holdings to market. They can bounce back if prices recover, but when crypto tanks, these losses can quickly balloon—and hit earnings hard.
The quarter highlights the key question for traders ahead of Wednesday’s session: can BitMine continue funding its crypto “treasury” strategy without diluting current shareholders too much?
BitMine’s latest 10-Q reveals a clear shift in its revenue mix, moving away from self-mining and leaning more on leasing, consulting, and staking. Staking involves locking up tokens to support blockchain operations, earning rewards in return.
Another factor coming up soon is a shareholder vote that could let the company issue more stock. Authorized shares represent the max a company can issue before needing shareholder OK. Tom Lee, BitMine’s chairman, said the company needs holders to pass Proposal No. 2 to raise authorized shares, noting that “when that happens, our ETH accumulation will slow.” He added the company’s charter demands approval from 50.1% of all outstanding shares to move forward.
BitMine highlighted its crypto assets ahead of its upcoming vote. The firm reported combined “crypto + total cash + ‘moonshots’” holdings of $14.0 billion as of Jan. 11. This includes roughly 4.17 million ether tokens, $988 million in cash, 193 bitcoin, plus an equity stake labeled as “moonshots.” The annual meeting is scheduled for Jan. 15 at Wynn Las Vegas, with proxy voting by phone and online closing at 11:59 p.m. ET on Jan. 14. (PR Newswire)
Crypto prices climbed approaching the U.S. close, adding another variable to watch. Ether gained roughly 7.5%, reaching $3,333.81.
The share vote looms large. Earlier proxy filings pitched Proposal 2 as a jump in authorized shares—from 500 million to 50 billion—a move that could stoke dilution worries if BitMine ramps up equity sales to fund more crypto purchases. (SEC)
Investors will be eyeing any market response to Wednesday’s freshly filed 10-Q, then turning to the Jan. 14 vote cutoff and Jan. 15 meeting for a sharper sense of BitMine’s plans to ramp up its ether holdings. (SEC)
