BitMine Faces $7.34 Billion in Unrealized Ethereum Losses as ETH Slides Toward $1,900

Major Ethereum holder BitMine is currently facing unrealized losses of $7.34 billion as the ETH price hovers around the $1,900 level. The firm's large, leveraged Ethereum position has come under pressure after ETH fell 26.59% over the past 30 days to about $1,941, with trading volumes and open interest also declining. BitMine recently expanded its ETH holdings to 4,371,497 ETH worth $8.68 billion and staked more than half of its reserves, underscoring its long-term bullish bet despite the sharp drawdown.