Analyst: BitMine's ETH holding cost is around $4,020, and this recent increase has slightly lowered the average price.
BlockBeats News, on November 10, on-chain data analyst Yujin posted on social media that Bitmine purchased 110,000 ETH last week (approximately $385 million), bringing its total ETH holdings to 3.505 million (approximately $12.42 billions).
However, its average ETH cost is as high as $4,020, currently resulting in a significant unrealized loss of $1.66 billions. This recent purchase was made to lower the average cost.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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