Part of situation:
BitMine boosts ETH stake, treasury to $11.8 B (43 clusters)
BitMine stock confronts Ethereum-driven losses amid strategic shift to staking
BitMine stock has incurred billions in losses attributed to Ethereum exposure.
BitMine Immersion Technologies is described as undergoing a phase of fundamental strategic changes, with the macro environment for cryptocurrencies improving.
The transition to Ethereum staking is said to enable around 97% gross margins and supports a scalable growth strategy with substantially lower hardware requirements.