BitMine's Ethereum Asset Lost 8 Billion Dollars in Value.

BitMine's Ethereum Stash Faces Huge Losses

BitMine Immersion purchased Ethereum assets for 16.4 billion dollars. However, with recent declines, the value of these assets has now fallen to 8.4 billion dollars. The price of Ethereum dropping below $2,000 is worrying investors.

BMNR Stock Hits New Low

BMNR stock has lost 88% of its value since July. As of Thursday, the shares reached a new low with a daily loss of 7%.

The company stated that it has no debt obligations and continues to earn staking revenue on Ethereum. This situation provides some relief for investors.