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BitMine faces $8.9B unrealized loss as Ethereum price falls below $1,800, dragging shares down 5.9%.

Market News
03 Jun 2026
Tokenpost
View Source
Bearish
pluang ai news

BitMine Immersion Technologies, the largest corporate holder of Ethereum, is facing an $8.9 billion unrealized loss as Ethereum's price drops below $1,800. The company's shares fell 5.9%, extending losses to 28% since early May and hitting a low since its Ethereum treasury strategy began in 2025. Despite this, BitMine holds over 5.4 million ETH, with 87% staked generating $276 million annually, and chairman Tom Lee remains bullish on Ethereum's long-term potential, predicting a rise to $250,000. The situation highlights risks in large-scale corporate crypto holdings amid volatile markets.

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