Bitmine Posts $101B Loss After Raising $19.2B to Buy 5.54M ETH as Price Falls to $1,650

ETH3.37%
According to a 10x Research report cited by ChainCatcher, Bitmine raised $19.2 billion through 50 equity offerings over the past 12 months to purchase approximately 5.54 million ETH (4.6% of circulating supply) at a weighted average price of $3,526. With ETH currently trading at $1,650, the company's ETH treasury is worth $9.1 billion, resulting in a total loss of $10.1 billion, or a 52% drawdown. Additionally, investors collectively overpaid approximately $4.6 billion in premiums above ETH's underlying net asset value when purchasing shares.
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TheKingSoared-Refusevip
· 06-10 05:05
Steadfast HODL💎
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