BitMine Suffers $4 Billion Unrealized Loss Amidst Ethereum Drop

BitMine Immersion (BMNR), the leading Ethereum-focused digital asset treasury, is grappling with over $4.4 billion in unrealized losses due to a significant decline in ETH’s value. The cryptocurrency’s 45% drop from its August peak has triggered an alarming plunge of BMNR’s stock price by 84%, since July. Markus Thielen, analyst at 10x Research, highlights that these losses signal deeper structural challenges within Digital Asset Treasury (DAT) companies like BMNR.