Crypto: BitMine’s Ethereum Bet Backfires With $8.83 Billion in Losses

BitMine would show nearly 8.83 billion dollars of latent losses on its Ethereum reserves, according to an estimate released on November 13, 2026. The figure has stirred the crypto market, but it deserves clarification: the calculation uses an average purchase price dating from August and assets declared in November. It therefore does not correspond to a loss officially announced by the company.

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