{"id":12354,"date":"2026-08-25T14:20:12","date_gmt":"2026-08-25T14:20:12","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=12354"},"modified":"2026-08-25T14:20:12","modified_gmt":"2026-08-25T14:20:12","slug":"the9s-9bit-gain-lifts-q2-profit-despite-operating-loss","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=12354","title":{"rendered":"The9\u2019s 9BIT gain lifts Q2 profit despite operating loss"},"content":{"rendered":"<p><\/p>\n<div data-single-article-content=\"\">\n<p>The9\u2019s second-quarter profit was driven by accounting for its 9BIT token holdings rather than its operating businesses, with one fair-value gain alone exceeding the company\u2019s bottom line.<\/p>\n<p>The Nasdaq-listed company reported $32.4 million of net income for the quarter ended June 30, up from $22.6 million in the first quarter. Yet The9 recorded only $712,000 of revenue, zero cryptocurrency-mining revenue and a $13.4 million loss from operations.<\/p>\n<h2>Token income outweighed operations<\/h2>\n<p>Below the operating line, The9 recognized a $47.2 million fair-value gain on 9BIT tokens and an additional $11.1 million cryptocurrency reward. Together, those two items totaled $58.3 million, more than the quarter\u2019s net income.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-557739\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-d96bc410-8839-42f1-9d8e-83db42ca9091.png\" alt=\"Infographic comparing The9\u2019s $32.4 million second-quarter net income with a $47.2 million 9BIT fair-value gain, an $11.1 million token reward and a $13.4 million operating loss.\" width=\"720\" height=\"900\"\/><img decoding=\"async\" class=\"lazyload aligncenter wp-image-557739\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-d96bc410-8839-42f1-9d8e-83db42ca9091.png\" alt=\"Infographic comparing The9\u2019s $32.4 million second-quarter net income with a $47.2 million 9BIT fair-value gain, an $11.1 million token reward and a $13.4 million operating loss.\" width=\"720\" height=\"900\"\/><\/p>\n<p>The comparison with the first quarter sharpens that divide. The9\u2019s 9BIT reward and fair-value income rose from $37.6 million in the first quarter to $58.3 million in the second. Its operating loss narrowed by less than $1 million.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">TON Strategy earned $15 million staking Gram while operations burned $10.6 million in cash<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<p>The9\u2019s first-quarter filing reported $22.6 million of net income. The company described the second-quarter increase using rounded figures as more than 39%, while the exact statement values imply a larger percentage gain.<\/p>\n<p>The accounting treatment separates the token contribution from the company\u2019s operating result. The company recorded the cryptocurrency reward and subsequent fair-value change after operating income or loss, and both flowed through net income. Both items sat outside operating revenue and generated no cash for the company\u2019s businesses.<\/p>\n<aside id=\"cs-inline-newsletter-1\" class=\"cs-inline-newsletter\" data-inline-newsletter=\"\" data-newsletter-placement=\"article-midpoint\" data-newsletter-pending-label=\"Joining\u2026\" data-newsletter-pending-status=\"Joining the Daily Brief\u2026\" data-newsletter-email-required-message=\"Before sending, please provide your email address.\" aria-labelledby=\"cs-inline-newsletter-1-title\" aria-describedby=\"cs-inline-newsletter-1-copy\">\n<div class=\"cs-inline-newsletter__inner\">\n<div class=\"cs-inline-newsletter__content\"> <span class=\"cs-inline-newsletter__eyebrow\"> <i class=\"fa-regular fa-envelope\" aria-hidden=\"true\"\/> The Daily Brief <\/span><\/p>\n<h2 id=\"cs-inline-newsletter-1-title\" class=\"cs-inline-newsletter__title\">The signal, before the noise.<\/h2>\n<p id=\"cs-inline-newsletter-1-copy\" class=\"cs-inline-newsletter__copy\">Start your day with the crypto stories moving markets, decoded by CryptoSlate\u2019s editors.<\/p>\n<\/div>\n<div class=\"cs-inline-newsletter__form-shell\">\n<p class=\"cs-inline-newsletter__form-heading\">One email. Everything that matters.<\/p>\n<p id=\"cs-inline-newsletter-1-privacy\" class=\"cs-inline-newsletter__privacy\">Free to join. Unsubscribe any time.<\/p>\n<p> <i class=\"fa-regular fa-circle-xmark\" aria-hidden=\"true\"\/> <span>Whoops, looks like there was a problem. Please try again.<\/span><\/p>\n<p> <i class=\"fa-regular fa-circle-check\" aria-hidden=\"true\"\/> <span><strong>You\u2019re on the list.<\/strong> Your next Daily Brief is on its way.<\/span><\/p>\n<\/div>\n<\/div>\n<\/aside>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Crypto revenue tanks 70% for major AI finance company, but its paper gains just delivered a record quarterly profit<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<h2>Incentive awards remain conditional<\/h2>\n<p>That higher net-income result satisfied the second-quarter growth condition in a long-term management incentive plan. Under the plan, senior management may become eligible for equity awards representing up to 12% of The9\u2019s outstanding shares. Net income in each remaining quarter of 2026 must exceed the first-quarter result.<\/p>\n<p>Award issuance and vesting remain conditional. The9 said the awards are subject to multi-year vesting and a three-year lock-up, making the quarter\u2019s result one condition being met rather than immediate dilution. Future quarters must separately exceed the first-quarter baseline for their respective conditions.<\/p>\n<p>The9 carried its 1.9 billion 9BIT tokens at $96.6 million on June 30. As of the Aug. 24 release, it valued total crypto holdings at about $120 million based on quoted prices. That figure included 347 Bitcoin and 1.9 billion 9BIT tokens, and the company warned it might not reflect realizable value.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Tesla books $112 million crypto paper loss as digital assets fall to $674 million<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<p>9BIT has spot markets on BingX, MEXC and KuCoin. CoinGecko showed about $5.7 million in 24-hour trading volume across three tracked markets on Aug. 25, with circulating supply unreported. That activity offers a reference price, while the sale value of The9\u2019s 1.9 billion-token holding remains untested.<\/p>\n<\/div>\n<p>Digital Asset Treasuries,Earnings,Featured,Bitcoin,Kucoin,Mexc,miningBitcoin,Kucoin,Mexc,mining#The9s #9BIT #gain #lifts #profit #operating #loss1787667612<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The9\u2019s second-quarter profit was driven by accounting for its 9BIT token holdings rather than its operating businesses, with one fair-value gain alone exceeding the company\u2019s bottom line. The Nasdaq-listed company reported $32.4 million of net income for the quarter ended June 30, up from $22.6 million in the first quarter. Yet The9 recorded only $712,000<\/p>\n","protected":false},"author":1,"featured_media":12355,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[6491,91,2845,4949,880,2388,3435,447,6217,688,6490],"class_list":["post-12354","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ethereum","tag-9bit","tag-bitcoin","tag-gain","tag-kucoin","tag-lifts","tag-loss","tag-mexc","tag-mining","tag-operating","tag-profit","tag-the9s"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The9\u2019s 9BIT gain lifts Q2 profit despite operating loss - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"description\" content=\"The9 reported $32.4 million in Q2 net income, driven by a $47.2 million 9BIT fair-value gain despite a $13.4 million operating loss.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=12354\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The9\u2019s 9BIT gain lifts Q2 profit despite operating loss\" \/>\n<meta property=\"og:description\" content=\"The9 reported $32.4 million in Q2 net income, driven by a $47.2 million 9BIT fair-value gain despite a $13.4 million operating loss.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptonews.uk.com\/?p=12354\" \/>\n<meta property=\"og:site_name\" content=\"Crypto News: Latest Cryptocurrency News and Analysis\" \/>\n<meta property=\"article:published_time\" content=\"2026-08-25T14:20:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/9bit-umbrella-profit-shield.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"\u884c\u653f\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u884c\u653f\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12354\",\"url\":\"https:\/\/cryptonews.uk.com\/?p=12354\",\"name\":\"The9\u2019s 9BIT gain lifts Q2 profit despite operating loss - Crypto News: Latest Cryptocurrency News and Analysis\",\"isPartOf\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12354#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12354#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/9bit-umbrella-profit-shield.jpg\",\"datePublished\":\"2026-08-25T14:20:12+00:00\",\"author\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#\/schema\/person\/822778c5844e0d16d43dce6630f4f1bf\"},\"description\":\"The9 reported $32.4 million in Q2 net income, driven by a $47.2 million 9BIT fair-value gain despite a $13.4 million operating loss.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12354#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptonews.uk.com\/?p=12354\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12354#primaryimage\",\"url\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/9bit-umbrella-profit-shield.jpg\",\"contentUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/9bit-umbrella-profit-shield.jpg\",\"width\":1280,\"height\":720},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12354#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptonews.uk.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The9\u2019s 9BIT gain lifts Q2 profit despite operating loss\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptonews.uk.com\/#website\",\"url\":\"https:\/\/cryptonews.uk.com\/\",\"name\":\"Crypto News: Latest Cryptocurrency News and Analysis\",\"description\":\"Latest Crypto &amp; 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