BitMine Faces Substantial Ethereum Losses: Report Reveals $3.7 Billion Unrealistic Drop

BitMine, the world’s largest corporate holder of Ethereum, is currently experiencing significant losses on its Ethereum holdings, according to a recent report from 10x Research. The report shows that BitMine is losing approximately $1,000 per Ethereum compared to its average cost, resulting in a total unrealized loss of $3.7 billion. This substantial drop in NAV has impacted the company’s ability to attract new retail investors and has left many existing shareholders ‘trapped’, unable to sell at favorable prices unless they take significant losses.