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Ethereum fell over 27% this month, with BitMine, the company holding the largest ETH holdings, facing over 4 billion USD in unrealized losses.
With Ethereum experiencing a big dump of over 27% in a month, trading prices have fallen below $3000, and BitMine is facing an unrealized loss of over $4 billion. This massive loss is not an isolated incident; it reflects a deeper systemic crisis sweeping across the digital asset (DAT) industry, which is wobbling due to the volatility it relies on for survival.
BitMine was once hailed as the Berkshire Hathaway of the digital asset space, envisioning to lock up 5% of the circulating supply of Ethereum. Its core strategy is to transform the company's balance sheet into a long-term, high-confidence investment in blockchain network infrastructure. Today, this ambitious vision collides with the harsh realities of the market.
ETH4.61%
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