BitMine’s Ethereum Holdings Surpass 3.5 Million, Controlling 2.9% of Supply
Analyst data shows BitMine now holds 3.56 million ETH—about 3% of total supply—at an average cost well above current prices, reflecting a substantial unrealized loss.
ETH
Summary
BitMine increased its Ethereum holdings by 54,000 ETH last week, bringing its total to 3.56 million ETH worth $11.27 billion, representing roughly 3% of Ethereum’s supply. The average acquisition cost is $4,009 per ETH, resulting in an unrealized loss of $2.98 billion, or -21%, based on current valuations.
Terms & Concepts
- Ethereum: A decentralized blockchain platform that supports smart contracts and decentralized applications.
- ETH Holdings: The amount of Ether owned by an entity, representing its stake in the Ethereum network.