Ether moved closer to $2,700 on Sept. 21, narrowing the unrealized loss on Bitmine’s total holdings to about $2.71 billion, according to BlockBeats. The company, described in the report as the world’s largest Ethereum treasury firm, had previously seen that paper loss widen to as much as $10 billion. Bitmine now holds 5,956,378 ETH in total, with an average acquisition cost of about $3,340 per token. Of that amount, 5,067,309 ETH remains staked, equal to 85% of its total holdings. The staked position is valued at about $12.7 billion, and the current annualized staking yield is about $334 million. The figures show how Ether’s latest move has reduced pressure on Bitmine’s balance sheet, while the company continues to keep most of its ETH in staking.
Ether was nearing $2,700 on Sept. 21, cutting the unrealized loss on Bitmine’s total holdings to about $2.71 billion, BlockBeats reported. The loss had previously widened to as much as $10 billion.
Bitmine, described in the report as the world’s largest Ethereum treasury company, now holds 5,956,378 ETH in total. Its average cost basis stands at about $3,340 per ETH.
The company has kept 5,067,309 ETH staked, or 85% of its total holdings. That staked Ether is worth about $12.7 billion, with current annualized staking income of about $334 million.
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