Bitcoin treasury company Strategy (MSTR) and Ethereum treasury company Bitmine (BMNR) are experiencing substantial paper losses on their cryptocurrency holdings. Strategy recently acquired 592 BTC for $39.8 million at an average price of $67,286, bringing its total holdings to 717,722 BTC valued at $47.501 billion. However, with an average acquisition cost of $76,020 per BTC, Strategy faces a paper loss of $7.059 billion. Similarly, Bitmine purchased 51,162 ETH for $99.4 million at an average price of $1,943, increasing its total holdings to 4,422,659 ETH valued at $8.504 billion. With an average cost of $3,779 per ETH, Bitmine's paper loss stands at $8.208 billion. These figures highlight the volatility and financial challenges associated with large-scale cryptocurrency investments.