BitMine, owned by Tom Lee, suffered a massive $6.3 billion loss in its last fiscal year, primarily due to the decline in the value of Ethereum (ETH). BitMine, the world's largest publicly traded Ethereum (ETH) reserve holder, reported a net loss of approximately $6.31 billion for the fiscal year ending August 31, compared to a profit of $349 million in the previous fiscal year. Almost all of the loss stemmed from the devaluation of its ETH holdings. BitMine is chaired by Tom Lee, co-founder of Fundstrat. At the end of the fiscal year, it held approximately 5.9 million ETH, purchased at a cost of approximately $19.95 billion, which was worth only approximately $14.56 billion at the market price at the end of the period. Annual revenue was approximately $125 million, 97% of which came from ETH staking rewards. BitMine continues to buy. According to data released on November 9, its ETH holdings had increased to approximately 6.07 million ETH, representing about 4.97% of the total ETH supply, of which approximately 5.23 million were staked.