Bitmine faces $2.1 billion unrealized loss on ETH holdings, treasury firms under pressure

Bitmine reported substantial unrealized losses of $2.1 billion due to Ethereum holdings, while Evernorth experienced $78 million losses on XRP. The market fluctuations since October 10th have notably impacted these companies.

Following the October 10th market crash, the stock price of Strategy dropped by 53%, closely linked to Bitcoin’s performance. Metaplanet also reported around $120 million losses with its 30.8 Bitcoin holdings.