According to on-chain analyst WuJin's monitoring, Bitmine currently holds 4.243 million ETH at an average cost of $3,849 per token. With ETH recently dropping to around $2,400, Bitmine's unrealized losses have hit a record $59.2 billion, representing a loss of over one-third (-36%) of their investment.
Market Volatility and Investment Risks
This significant loss highlights the extreme volatility inherent in the cryptocurrency market and the immense pressure institutional investors face during sharp price declines. As the second-largest cryptocurrency by market cap, Ethereum's price movements have far-reaching implications for the broader market.
- Bitmine Holdings: 4.243 million ETH
- Average Cost: $3,849
- Current Price: Around $2,400
- Total Unrealized Loss: $59.2 billion
Analysts note that Bitmine's losses could deepen further amid ongoing market uncertainty. Investors should closely monitor market conditions to mitigate potential risks.