Several cryptocurrency treasury companies are under pressure, with Bitmine facing a $2.1 billion unrealized loss on its ETH holdings.

CryptoQuant, in an article on its X platform, stated that Bitcoin is under pressure, and so are treasury firms holding Bitcoin assets. Not only are Bitcoin-holding treasury firms affected, but those holding altcoins are also suffering. For example, Evernorth's XRP position has incurred $78 million in unrealized losses, and it only entered the market 2.5 weeks ago. Furthermore, Strategy's stock price has fallen 53%, and is currently trading near the lower end of its MSTR price range ($221) based on its Bitcoin holdings. Metaplanet holds 30.8 Bitcoins at an average purchase price of $106,000; its unrealized losses are approximately $120 million, and its stock price is down about 80% from its all-time high.