BitMine Down $8.9 Billion on Ethereum Treasury, Strategy Down $7.6 Billion on Bitcoin Position
Tom Lee's BitMine was down about $8.9 billion on its Ether holdings, while Michael Saylor's Strategy was down $7.6 billion on its Bitcoin position. The estimates valued BitMine's 5,416,901 ETH at $10.03 billion and Strategy's 843,706 BTC at $56.26 billion.
A separate update put BitMine's unrealized loss on its Ethereum treasury at about $8.86 billion, broadly in line with the roughly $8.9 billion figure. The numbers show the scale of valuation swings for companies with large cryptocurrency treasuries.
From the sources (3 posts)
@lookonchainJUST IN: Tom Lee (@fundstrat)'s #Bitmine is down $8.9B on 5,416,901 $ETH ($10.03B). Michael Saylor (@saylor)'s #Strategy is down $7.6B on 843,706 $BTC ($56.26B).
@cointelegraph🚨 UPDATE: Tom Lee's Bitmine is currently sitting on $8.86 billion in unrealized losses on its Ethereum treasury.
@cointelegraph🚨 UPDATE: BitMine is down $8.9B on its $ETH holdings, while Strategy is down $7.6B on its $BTC position.