BitMine Faces $8.9 Billion Unrealized Loss as Ethereum Price Drops Below $1,800

BitMine Immersion Technologies (NYSE: BMNR), the largest corporate holder of Ethereum (ETH), is facing mounting pressure as the cryptocurrencys sharp decline continues to erode the value of its massive digital asset treasury. With ETH falling below the $1,800 mark, the company is now sitting on an estimated $8.9 billion in unrealized losses, according to data from DropsTab.