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CryptoNewsBitMine Sits on $3.7B Loss as DAT ‘Hotel California’ Meets BlackRock’s Staked ETH ETF
BitMine Sits on $3.7B Loss as DAT ‘Hotel California’ Meets BlackRock’s Staked ETH ETF
Crypto

BitMine Sits on $3.7B Loss as DAT ‘Hotel California’ Meets BlackRock’s Staked ETH ETF

•November 20, 2025
0
Cointelegraph
Cointelegraph•Nov 20, 2025

Companies Mentioned

BitMine

BitMine

BMNR

BlackRock

BlackRock

BLK

10x Research

10x Research

Grayscale Investments

Grayscale Investments

GBTC

Upexi

Upexi

UPXI

Strategy

Strategy

MSTR

Metaplanet

Metaplanet

DeFi Development Corporation UK PLC

DeFi Development Corporation UK PLC

Matrixport

Matrixport

Why It Matters

The widening loss and declining mNAV threaten the funding model of Ether‑holding DATs, while BlackRock’s entry into staked‑ETH ETFs introduces a cheaper, more transparent alternative that could accelerate capital outflows from these firms.

BitMine sits on $3.7B loss as DAT ‘Hotel California’ meets BlackRock’s staked ETH ETF

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