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Bitmine Faces $1.66 Billion Unrealized Loss on Ethereum Holdings

Bitmine Faces $1.66 Billion Unrealized Loss on Ethereum Holdings

Analyst data shows BitMine’s Ethereum holdings now exceed 3% of supply, but falling prices have deepened unrealized losses despite recent large-scale purchases.

ETH

Summary

Analyst Ember reported that BitMine added 54,000 ETH last week, bringing total holdings to 3.56 million ETH worth $11.27 billion, about 3% of Ethereum’s total supply. The average acquisition cost is $4,009 per ETH, resulting in an unrealized loss of $2.98 billion, representing a 21% decline. The purchase reflects continued accumulation by BitMine despite weakening ETH prices.

Terms & Concepts
  • Ethereum (ETH): A decentralized blockchain platform enabling smart contracts and decentralized applications.