Strategy and Bitmine's recent DAT operations are truly textbook-level contrarian indicators; losing over $20 billion without blinking an eye, while HYPE quietly counts its money.

Wu reportedly learned that, according to Artemis data, Strategy and Bitmine’s DAT treasury strategies are currently showing unrealized losses of $12.8 billion and $10.3 billion respectively; meanwhile, the only DAT showing a positive return in the market right now is HYPE Treasury Company, with Hyperliquid Strategies showing an unrealized gain of $1.2 billion.