Bitmine's Ethereum holdings have a paper loss of approximately $8.9 billion, exceeding Strategy's Bitcoin holdings' paper loss.

CoinFeed reported on June 3rd that, according to Lookonchain statistics, as the crypto market continues to correct, Bitmine, the Ethereum reserve company backed by Tom Lee, has seen its unrealized losses exceed those of Strategy's Bitcoin holdings. Data shows that Bitmine currently holds 5,416,901 ETH, worth approximately $10.03 billion at current market prices, representing an unrealized loss of approximately $8.9 billion from its purchase cost. Meanwhile, Strategy, led by Michael Saylor, holds 843,706 BTC, currently valued at approximately $56.26 billion, with an unrealized loss of approximately $7.6 billion.