Bitmine Suffers Massive Unrealized Losses Due to Ethereum Price Drop
According to on-chain data monitored on February 2, Bitmine currently holds 4.243 million ETH at an average cost of $3,849. However, with Ethereum's price plummeting to $2,222 this morning, marking a new low since June 2025, Bitmine's unrealized losses have expanded to $6.9 billion.
This price fluctuation has not only significantly impacted Bitmine but also drawn widespread attention to institutions holding large amounts of cryptocurrency. The decline in ETH's value reflects a generally bearish market sentiment and weak investor confidence, which may affect capital flows across the blockchain ecosystem.
- Bitmine ETH Holdings: 4.243 million
- Average Cost: $3,849
- Current Price: $2,222
- Unrealized Losses: $6.9 billion
While short-term volatility is inevitable, Ethereum's long-term outlook remains positive due to ongoing technical upgrades and ecosystem growth. For institutions holding significant amounts of ETH, maintaining financial stability amid market fluctuations is becoming a pressing issue.