Corporate Crypto Losses Continue to Rise Amid Market Downturn

Mark-to-market losses at listed companies with large digital-asset holdings have increased significantly due to the recent decline in the cryptocurrency market.

According to on-chain analytics platform Lookonchain, Strategy's unrealized losses on its Bitcoin investment have surpassed $12 billion. This is the largest mark-to-market loss in the company's history.

BitMine, which has been pursuing an 'Ethereum version of Strategy' strategy, is also experiencing heavy losses with over $10 billion in unrealized losses on its Ethereum investment.

Other companies, including SharpLink, Metaplanet, and Forward Industries, are also facing significant mark-to-market losses on their investments in Ethereum, Bitcoin, and Solana.