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BREAKING: BitMine’s $4 billion ETH loss sends shockwaves through digital asset industry 📉🔥. Companies like SharpLink hit
wait bro what happened to BitMine securing 5% of Ethereum’s supply?! 🤯 is this the end of digital asset treasuries or
brOo wHaT iS hApPening wItH tHe EtHeReUm tReAasury cOmpAnies
Issue: BitMine and other digital asset treasuries facing significant losses as Ethereum’s value declines.
Insight: The shift from accumulation to asset
BitMine aimed to secure 5% of Ethereum’s circulating supply but faces over $4 billion in losses as Ethereum plunges. This mirrors a broader crisis in the digital asset treasury industry, with companies like SharpLink seeing holdings drop by 80%. The collapse in ETH value challenges the model’s viability, with companies like FX Nexus shifting from accumulation to selling assets to protect equity. DATs’ mNAV ratios falling below 1 hinder capital raising, posing existential threats.
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