Ethereum-focused firms are grappling with significant financial challenges as the cryptocurrency's price drop to $2,700 has resulted in $4.5 billion in unrealized losses for major treasuries. The overall value of public crypto treasuries has plummeted from $176 billion in July to $99 billion, marking a nearly 50% decline in five months. BitMine Immersion Technologies, the largest publicly traded Ethereum treasury, holds 3.55 million ETH, contributing to its substantial unrealized losses. Despite these setbacks, BitMine has declared its first annual dividend of $0.01 per share, shifting from its previous buyback strategy. The company reported a net income of $328 million for the fiscal year ending August 31, although its stock price has fallen to $26.49 from a peak of $135. Looking ahead, BitMine plans to expand its infrastructure and launch the Made in America Validator Network (MAVAN) in early 2026.