Strategy and Bitmine emerge as the biggest losers, recording staggering unrealized losses.
The cryptocurrency market has endured a severe downturn over the past week, with Bitcoin plunging to around $59,000 on Friday its lowest level in nearly 19 months. After shedding more than $20,000 in value within roughly three weeks, Bitcoin’s sharp decline triggered widespread losses across the broader crypto market, dragging most altcoins down with it.
The sell-off has significantly increased pressure on publicly traded companies with large cryptocurrency reserves. Data compiled by Lookonchain highlights the scale of the paper losses these firms are currently facing.
Strategy and Bitmine Suffer the Largest Losses
It is important to note that these figures can change rapidly, as cryptocurrency markets operate around the clock and prices remain highly volatile. Even so, the data paints a stark picture of the challenges facing major corporate crypto investors.
Leading the list is Strategy, led by Michael Saylor. The company, which holds the largest corporate Bitcoin treasury in the world, has aggressively accumulated BTC over the past 18 months. Despite selling a small portion of its holdings recently, Strategy still owns approximately 843,706 BTC.
With an average acquisition cost of roughly $75,600 per Bitcoin, the company has invested around $63.8 billion in its BTC position. At current market prices, those holdings are valued at approximately $51.6 billion, leaving Strategy with an unrealized loss exceeding $12 billion the largest paper loss in its history.
Although Bitmine’s crypto portfolio is considerably smaller than Strategy’s, its unrealized losses are not far behind. The company, chaired by Tom Lee, is currently sitting on more than $10 billion in paper losses tied to its Ethereum holdings. This comes despite Lee’s repeated assertions in recent months that Ethereum had likely reached its bottom and that a broader crypto recovery was imminent.
Other Major Corporate Holders Also Under Pressure
Like Bitmine, SharpLink has also been hit hard by Ethereum’s decline. According to Lookonchain’s figures, the company has seen the value of its ETH holdings fall by roughly $1.7 billion at current market prices.
Meanwhile, Metaplanet, often referred to as “Asia’s Strategy,” has accumulated unrealized losses of more than $1.4 billion on its Bitcoin investments. The Japanese firm aggressively purchased BTC throughout 2024 and 2025 as a hedge against currency weakness and broader economic uncertainty, though it has largely paused new acquisitions in recent months.
Forward Industries rounds out the list with approximately $1.14 billion in unrealized losses stemming from its Solana position. Given Solana’s typically higher volatility, the company’s exposure has amplified both potential gains and the severity of recent losses.#crypto#cryptonewshttps://coinsignals.net https://t.me/coinsignalpublic
