Crypto Treasury Firms Suffer Heavy Losses as Bitcoin and Ethereum Decline

Crypto treasury firms are facing increased losses as Bitcoin and Ethereum continue to weaken. The market value of Strategy's Bitcoin holdings has declined by over $10 billion, resulting in a total unrealized loss of approximately $11.2 to $11.3 billion.

Strategy currently holds 843,706 BTC, with an average purchase cost of around $75,699 per coin. At current prices, the market value of this holding has shrunk to approximately $52.6 billion, representing a significant decline from its original value.

Bitmine Immersion Technologies is also experiencing pressure on its Ethereum treasury, which currently holds over 5.4 million ETH, valued at nearly $10 billion. The company's unrealized loss on this holding is approximately $8.9 to $9.38 billion, based on an average cost basis of around $3,500 per coin.

Despite these losses, Bitmine has staked approximately 4.7 million ETH through the MAVAN network, generating an estimated annualized income of $276 million to $300 million.