Ethereum’s decline has resulted in over $1.9 billion in unrealized losses for Bitmine and SharpLink, which acquired large ETH holdings at higher average costs.
Ethereum’s price drop below $3,500 has left BitMNR with 3,395,422 ETH valued at $11.88 billion, purchased at an average cost of $4,037 per ETH, producing an unrealized loss of $1.82 billion. SharpLink holds 860,299 ETH worth $3.01 billion, bought at an average price of $3,609, resulting in an unrealized loss of $93.77 million.