Bitmine Immersion Technologies (BMNR) reported a staggering net loss of $3.82 billion for the quarter ending February 28, 2026, despite a significant revenue increase driven by Ethereum staking. The company's revenue rose to $11.04 million, primarily from staking rewards, marking a sharp increase from $1.5 million a year earlier. However, the losses were largely attributed to $3.78 billion in unrealized losses on digital asset holdings. BMNR has aggressively expanded its Ethereum holdings, now totaling approximately 4.87 million ETH valued at $10.7 billion, making it the largest corporate Ethereum holder globally. Despite the financial setbacks, the company remains optimistic about Ethereum's long-term potential, with Chairman Tom Lee viewing the current market conditions as a strategic buying opportunity. BMNR's stock closed down 0.14% at $21.48, reflecting a muted market response to the earnings report.