BMNR’s Massive 625,000 ETH Holdings Face $19.875M Floating Loss Amid Market Dip
Main Idea
Bitmine Immersion, the largest institutional holder of Ethereum, holds 625,000 ETH with a 9.25% floating loss, amounting to $19.875 million, due to recent market price declines.
Key Points
1. Bitmine Immersion holds 625,000 ETH, the largest institutional Ethereum position recorded.
2. The average buy-in price per ETH is approximately $3,755, while the current market price is $3,437.
3. The floating loss ratio is 9.25%, equating to roughly $19.875 million in unrealized losses.
4. The loss reflects recent market volatility and corrections impacting institutional portfolios.
5. Despite the loss, institutional holdings like Bitmine Immersion's demonstrate confidence in Ethereum’s long-term value.
Description
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