Bitmine Says Its Controls Are Still Not Effective as ETH Ended the Year $5.4 Billion Below Cost

Bitmine's annual report says its controls are still not effective, as ETH ended the year $5.4 billion below cost. The ether treasury company also reported a $143.7 million derivatives loss and a new 1.5% staking-fee deal with an Ethereum Tower affiliate, highlighting ongoing financial and operational challenges.