BitMine Faces Over $4 Billion in Unrealized Loss as Digital Asset Treasury Model Faces Scrutiny

BitMine Immersion Technologies, the world’s largest corporate Ethereum (ETH) holder, is now facing over $4 billion in unrealized losses on its ETH holdings. The firm’s drawdown reflects wider turmoil for digital asset treasury (DAT) companies, prompting new questions about the sustainability of this business model. BitMine’s Mounting Losses Create ‘Hotel California’ Scenario In a recent disclosure released earlier this week, BitMine revealed that it held nearly 3. 6 million ETH, equivalent to approximately 2 source: https://beincrypto.com/bitmine-dat-ethereum-losses-etf-compete/