Ethereum Portfolio Underwater for BitMine
New market analysis shows BitMine's crypto holdings have declined to $9.1 billion, marking significant depreciation from previous valuations.
Substantial Paper Losses Emerge
The data reveals an average acquisition price of $3,825 for Ethereum assets, resulting in approximately $7.3 billion in unrealized losses during this market cycle.
Industry Implications
- Portfolio performance reflects broader crypto market correction
- Institutional digital asset holders face valuation pressures
- Long-term investors monitoring key market indicators