BitMine Faces $7B in Unrealized Losses Amid Ether Market Decline

The decline in Ether prices puts pressure on treasury firms, with Trend Research selling $77 million in Ether at a loss amid ongoing market struggles.

The recent downturn in the cryptocurrency market has significantly impacted treasury firms holding Ethereum. BitMine, in particular, is nearing a staggering $7 billion in unrealized losses due to this market shift.

Amid these tough conditions, Trend Research had no choice but to liquidate $77 million worth of Ether, albeit at a loss. Meanwhile, various other firms are opting to retain their Ether holdings, enduring considerable paper losses as they wait for a potential market rebound.