BitMine Suffers Massive $3.7 Billion Loss as BlackRock’s Staked ETH Fund Emerges

Concerns are growing about the sustainability of corporate cryptocurrency treasuries, especially as Blackrock ventures into a staked Ether fund that analysts predict could challenge existing digital asset holdings. BitMine Immersion Technologies, the world’s largest corporate Ethereum holder, is currently down $1,000 per ETH, incurring a cumulative unrealized loss of $3.7 billion on its holdings, according to research from 10x Research. This decline in net asset value (NAV) poses significant challenges for attracting new retail investors while leaving existing shareholders effectively