By Isaac • June 3, 2026 9:34 pm •
BitMine, the largest public holder of Ethereum, is sitting on an estimated $8.9 billion unrealized loss after ETH dropped below $1,800.
The company holds more than 5.4 million ETH, roughly 4.5% of the circulating supply. That stash is worth about $10 billion at current prices.
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Ethereum still ranks as the #2 crypto asset by market cap on CoinGecko. The asset itself is not in question.
The size of the bet built on top of it is.
BitMine shares fell another 5.9% Wednesday, slipping below $17 and extending their decline to 28% since early May. That is the lowest the stock has traded since the company adopted its Ethereum treasury strategy in 2025.
Largest Ethereum Treasury
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