Large crypto treasury positions are currently under pressure during the market pullback.
BitMine is estimated to hold about $8.4B in unrealized losses on $ETH while Strategy carries roughly $7.5B in unrealized losses on $BTC. That brings the combined drawdown to around $15.9B.
These cases highlight how concentrated exposure to a single digital asset can amplify both gains and losses depending on market conditions.
For institutions holding crypto on their balance sheets risk management and diversification remain important considerations during volatile periods.