Just saw this and it honestly hits hard.
BitMine just reported a massive $3.8 billion net loss for the quarter — and it’s not from operations going wrong, but from holding Ethereum while the price dropped.
That’s the scary part. It’s an unrealized loss, meaning they haven’t actually sold their ETH. But on paper, the value has fallen so much that it wiped out billions.
It’s one of those reminders that in crypto, even giants aren’t safe from volatility. You can be holding strong assets, doing everything “right,” and still watch your balance swing wildly just because the market turns.
Nothing fundamentally broken. Just price… and timing.
That’s the game.