2026-01-02 00:24:06

A major Bitcoin mining operation has taken a $3.5 billion hit on its balance sheet. According to current metrics, they'd need ETH to rally to around $3,900 just to reach breakeven on their positions. The gap between current levels and their target price tells an interesting story about where institutional players are positioned and how macro conditions are affecting mining profitability.

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ChainProspector

· 14h ago

A $3.5 billion pit, this is a gamble on ETH doubling, it's crazy.

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AltcoinMarathoner

· 14h ago

$3.5B hole? ngl that's mile 20 energy right there. institutions bleeding out but fundamentals still intact—this is where the real accumulators separate from the paper hands tbh

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SmartMoneyWallet

· 14h ago

A $3.5 billion loss? Do these institutions really think they can precisely bottom fish? On-chain data has long told the story, and they're still waiting for a rebound.

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ContractSurrender

· 14h ago

Wow, 3.5 billion evaporated directly. How brutal... Are the institutions really betting on ETH breaking 3900? Feels uncertain. But speaking of which, this kind of situation might actually be a bottom signal.

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MetaverseLandlord

· 14h ago

Look at this loss amount... miners really can't hold on anymore. Losing 350 million dollars, and they have to wait for ETH to surge to 3900 to break even? What does this gap indicate? The institutions are now completely trapped.

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LiquidationSurvivor