🔥 Bitmine’s ETH Bags Deepen Losses in Q1
Bitmine continues to struggle under the weight of its massive Ethereum holdings. As of April 12, the firm still holds 4.87 million ETH, accounting for more than 4% of total supply. The position has led to an additional $4 billion in losses for Q1.
It’s a sharp contrast to the optimism at the end of last year, when “Uncle Tom” was hyping ETH to $8K–$10K in Q1 2026. Instead, the reality has been far from bullish, leaving the company and its investors in a tough spot.
This situation highlights the risks of oversized exposure to a single asset, especially in a volatile market where narratives can shift quickly.
⚠️ Information only — not financial advice.
#DYOR #NFA
ETH
2,356.05
-3.00%