Overview
- Dropstab and other trackers estimate $3.7 billion to $4.4 billion in unrealized losses on BitMine’s ether position with ETH recently near $2,800.
- BitMine holds about 3.51–3.56 million ETH, roughly 2.8%–2.9% of supply, making its equity highly sensitive to ether price moves.
- BMNR has fallen about 50% over the past month and roughly 84%–85% from its July peak, with shares now testing the $25–$27 support zone.
- The company reported $328 million in net income for the fiscal year ended Aug. 31, declared a $0.01 dividend, and outlined a staking infrastructure product called MAVAN targeted for early 2026.
- Market data show no realized ETH sales as the position sits below a ~$3,997 cost basis, and on-chain watchers reported a suspected additional 21,054 ETH purchase during the downturn.