Data: Bitmine continues to buy more ETH, with unrealized losses exceeding $4 billion.
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TL;DR
Bitmine has increased its ETH holdings by 63,114 ETH this week, lowering its average purchase price to $4,009. This has resulted in a paper loss of $4.16 billion, despite a market cap of only $7.4 billion.
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Smart ContractsLayer 1BitmineETHcryptocurrencyunrealized lossesinvestment
According to Mars Finance, based on Ember's monitoring, ETH treasury company Bitmine continues to add to its holdings, lowering the average price: 8 hours ago, it received 17,242 ETH (worth $48.96 million) from BitGo and FalconX. This week, Bitmine has increased its holdings by 63,114 ETH (worth $188 million) through Kraken, BitGo, and FalconX. Currently, the company holds 3.56 million ETH at an average price of $4,009, resulting in a paper loss of $4.16 billion, while its total stock market capitalization is only $7.4 billion.