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Home/Markets & Investing/STABLECOIN US LEGISLATION · ETHEREUM ETF

Fair Value Accounting Turns Bitmine's Ethereum Treasury Into a $3.8 Billion Paper Loss

LH

Lyra Harrington

stablecoin US legislation · Apr 16, 2026

Fair Value Accounting Turns Bitmine's Ethereum Treasury Into a $3.8 Billion Paper Loss

Source: DojiDoji Data Terminal

Bitmine recorded a $3.78 billion paper loss for the quarter, a result of fair value accounting rules adopted in 2024 that require the company to record unrealized price movements in its earnings. The loss occurred as Ethereum declined from earlier highs, despite the company's average purchase price of $2,206 per token for its 4.87 million ETH holdings.

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Strategy's $1 Billion Bitcoin Purchase Increases Total Holdings to 780,897 BTC

Strategy's total Bitcoin holdings increased to 780,897 BTC. The company acquired 13,927 BTC for approximately $1 billion, purchasing at an average price of $71,902 per BTC. The acquisition was funded entirely through the sale of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). This purchase follows a series of minor purchases in April. Funding for these acquisitions is drawn from a $21 billion offering of the STRC stock and $21 billion of MSTR stock under an At-the-Market (ATM) program announced in March. The total investment in Bitcoin now stands at $59.02 billion with an average cost basis of $75,577 per Bitcoin.

To build this treasury, Bitmine doubled its outstanding shares from 232 million to 494 million, raising more than $10 billion in equity capital. The company has shifted its operational model from mining to staking, with staking generating $10.2 million of the total $11 million in quarterly revenue.

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Kast's National Reconstruction Plan Would Cut Corporate Tax Rates to 23%

The Chilean state could stop collecting between $4.3 billion and $4.8 billion in revenue. This reduction is the result of the National Reconstruction Plan to be presented by José Antonio Kast on April 15. The plan includes a reduction of the corporate tax rate from 27% to 23% and the elimination of the capital gains tax. It also includes a reform of the tax system. Opposition deputies state that these measures would effectively gift $3 billion to the country's wealthiest.

General and administrative costs reached $75 million for the quarter, compared to less than $1 million a year earlier. Bitmine's expenses now exceed its revenue.

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Hospitality House adds 11 units to Nevada County affordable housing inventory

Local workforce residents, veterans, and families transitioning out of homelessness now have access to 11 new affordable housing units in Grass Valley. These units, consisting of 11 'miners cabins' under 500 square feet at 626 S. Auburn Street, comprise the property now named Empire Commons. The acquisition of 626 S. Auburn Street by Hospitality House is the third development completed by the organization in six months. This addition brings the total number of housing locations provided by Hospitality House to 7 across Nevada County.

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