BMNR Stock Price Forecast as Bitmine Reports $6.3B Net Loss Despite 1,900% Jump in Revenue

Bitmine (NYSE: BMNR) stock price is up in pre-market trading after the company reported a 1,900% increase in revenue in the financial year ending August 2026. However, despite the rising revenue, the company’s net loss soared to $6.3 billion.

The company’s stash of 6,070,092 ETH played a major role in the company’s financial results in that fiscal year, even as it draws closer to accumulating 5% of the entire Ethereum supply.

Bitmine Posts Massive Losses Amid Ethereum Price Decline

The net loss of $6.3 billion that Bitmine reported in the 2025 fiscal year largely stemmed from a decline in Ethereum price. During that year the price of Ethereum dropped by 44% from around $4,300 to $2,400.

In the SEC filing, Bitmine noted that $6.23 billion of the net losses came from the unrealized loss on its Ethereum holdings. Despite the loss, BMNR stock price remained up by 0.6% at the time of writing.

“Because we account for digital assets at fair value under ASC 350-60, price declines are immediately reflected in our results of operations, which may result in significant reported net losses even when we have not sold the assets,” Bitmine said.

Data from DropsTab currently shows that Bitmine’s Ethereum holdings are worth $12.46 billion, with an unrealized loss of $1.58 billion.

Revenues Surges 1,900%

Despite the $6.3 billion net loss, Bitmine also reported a notable jump in revenue. They rose by 1,900% from $6.1 million in the 2025 fiscal year to $124.81 million in the year ending August 2026.

The massive jump in revenue came from staking. Bitmine has staked more than 86% of the Ethereum that it holds. It began staking in November 2025, explaining why there was a revenue boom from this activity in the 2026 financial year.

The revenue increase also comes as Bitmine gets close to its 5% Ethereum supply target after its recent purchase of 9,587 ETH, with these purchases also boding well for BMNR stock price.

As CoinGape reported, Bitmine chairman, Tom Lee, had said that the company will halt its ETH purchases once it accumulates 5% of the Ethereum supply. Currently it sits at a 4.97% supply share.

BMNR Stock Prediction as Downtrend Persists

BMNR stock price is in a downtrend. This trend is shown in the descending channel, which is forming amid an increase in selling pressure.

BMNR is testing the midline of this channel at $18, and if it slips below it, the shares might drop to $15 next.

On the upside, Bitmine shares have to close above $18 for three straight days to confirm an upward trend. If this occurs, the stock could move towards $22 next.

The CMF line that is rising is creating a bullish divergence. It shows that the selling pressure is easing even as the shares remain in a downtrend. This CMF setup supports a potential move towards $22.

However, the RSI that remains below 50 suggests that the momentum around BMNR stock price remains bearish.

The weekly chart also shows that the bearish momentum remains strong. The MACD line on this higher timeframe has crossed to the negative side and dropped below the signal line.

This drop suggests that the bearish momentum is gaining strength. The AO bars that are red and shrinking in length also support the bearish thesis.

Hence, unl;ess conditions in the broader crypto market improve to support a recovery for crypto stocks, BMNR stock price faces a potential drop to $15.