Bitcoin falling below $75,000 creates major unrealized losses for Strategy and BitMine, raising balance sheet stress and liquidation concerns globally.
Bitcoin fell below $75,000, triggering sharp unrealized losses across several high-profile corporate crypto holders. Consequently, market volatility was on the rise, and the focus of investors was moving towards balance sheet resiliency and treasury risk.
Strategy’s Bitcoin Treasury Turns Underwater as Prices Weaken
According to Lookonchain’s January 2026 disclosures, Strategy has 712,647 BTC on its corporate balance sheet. Notably, the overall acquisition cost is close to $54.19 billion, a result of years of aggressive acquisitions.
However, Strategy’s average cost basis is $76,037 per BTC, so that holdings are now technically underwater. As Bitcoin moved between $74,700 and $75,300 on February 2, unrealized losses were over $900 million.
Related Reading: Tom Lee’s BitMine Suffers $6.9B Ethereum Loss
Importantly, Strategy’s Bitcoin is still not resilient and is not pledged as collateral. Therefore, there is no immediate forced selling risk in spite of the ongoing price volatility and stress in the market.
Meanwhile, Strategy kept buying more Bitcoin throughout January 2026 despite renewed volatility and uncertainty. Specifically, the company bought 1,287 BTC in early January and another 2,932 BTC later.
Additionally, Strategy has financial flexibility with ~$2.25 billion USD cash reserves. These reserves are used to support interest obligations on $8.2 billion in convertible debt.
Furthermore, observers point out that Strategy’s long-term approach places an emphasis on holding, rather than reacting to short-term swings. As a result, paper losses still stand as accounting figures that have no direct impact on the operational liquidity.
Nevertheless, plummeting prices have caused the corporate crypto treasury and risk management practices to come under heightened scrutiny. Consequently, investors focus more on liquidation exposure, leverage structures, and treasury transparency disclosures.
Ethereum Slump Deepens Pressure on Tom Lee’s BitMine
This wider caution came as Ethereum’s weakness put pressure on parallel companies that were exposed to crypto. BitMine reported an unrealized Ethereum loss of almost $6.9 billion as ETH traded near $2,300. Therefore, the drop in valuation led to a greater level of stress on the balance sheet and put pressure on company stocks.
The firm has a large position of Ethereum, which was taken up while the market was higher. Consequently, extended ETH weakness could have a material impact on the stability of equity and investor confidence worldwide.
Unlike Strategy, BitMine’s exposure looks more concentrated in order to be sensitive to Ethereum’s price movements. As a result, analysts caution that sustained declines could cause even greater financing and liquidity problems.
However, neither company has announced forced asset sales despite mounting unfulfilled losses. Nevertheless, ongoing market weakness may play into the future capital allocation and treasury strategies.
Looking ahead, Michael Saylor is bullish about long term adoption trajectory of Bitcoin as publicised in the following lines: Previously, he predicted Bitcoin finding $150,000 for the cycle of 2025 or 2026.
At the same time, investors are becoming increasingly sensitive to the risk of liquidation as prices test corporate balance sheet tolerance. Therefore, transparency, reserve buffers, and leverage discipline are still very important under volatile conditions.
Source: https://www.livebitcoinnews.com/bitcoin-slide-below-75k-pushes-saylors-strategy-into-900m-unrealized-loss/
