BitMine Reports $13.2 Billion in Crypto, Cash, and Investments
Analyst data shows BitMine now holds 3.56 million ETH worth $11.27 billion, about 3% of supply, reflecting substantial accumulation despite significant unrealized losses.
ETH
Summary
Analyst Ember reported that BitMine added 54,000 ETH last week, bringing its total to 3.56 million ETH valued at $11.27 billion, representing roughly 3% of Ethereum’s circulating supply. The average acquisition cost is $4,009 per ETH, resulting in an unrealized loss of $2.98 billion, or -21%, amid current market prices. This follows previous disclosures of expanded crypto and cash reserves despite valuation declines caused by market weakness.
Terms & Concepts
- Ethereum (ETH): A blockchain platform supporting smart contracts and decentralized applications, with its native cryptocurrency called Ether.
- Crypto Treasury: A firm's reserve of cryptocurrency holdings maintained as part of its assets for long-term value or strategic use.