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BitMine Expands Ethereum Holdings with $44.3 Million Purchase Amid Unrealized Losses 📊
Corporate treasury firm BitMine has acquired an additional 14,618 Ethereum ($ETH) valued at approximately $44.3 million, according to Arkham Intelligence data. The purchase was executed at an average price of $3,030 per $ETH.
This latest acquisition increases BitMine's total Ethereum $ETH holdings to 3.62 million ETH, representing approximately 3% of the total supply. Despite being the largest corporate holder of Ethereum ($ETH), the company currently faces approximately $3.6 billion in unrealized losses on its position.
BitMine has stated its long-term goal is to accumulate 5% of Ethereum's total supply, continuing its strategy of significant cryptocurrency treasury allocation despite current market conditions.
#BitMine #Ethereum #ETH #CorporateTreasury