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Bitmine’s Ethereum Portfolio Value Falls by Over $4.5 Billion

Bitmine’s Ethereum Portfolio Value Falls by Over $4.5 Billion

Bitmine holds 3% of Ethereum’s supply, adding nearly 70,000 ETH last week, but faces a $4.28 billion unrealized loss amid falling market prices.

ETH

Summary

Bitmine increased its Ethereum holdings by 69,822 ETH worth $202 million last week, bringing its total to 3.63 million ETH valued at $10.19 billion, representing about 3% of the total supply. The company’s average acquisition cost is $3,988 per ETH, resulting in an unrealized loss of $4.28 billion, a 29.6% drawdown based on current market prices. Despite the substantial depreciation, Bitmine continues expanding its position in Ethereum.

Terms & Concepts
  • Ethereum (ETH): A leading blockchain platform enabling decentralized applications and smart contracts, with its native cryptocurrency ETH.
  • Portfolio: A collection of assets or investments held by an individual or institution, often diversified to manage risk.
  • Digital Asset: An asset in digital form, such as cryptocurrencies, tokens, or other blockchain-based representations of value.