Analysis: If ETH drops another $200, it will reach Bitmine's ETH cost basis.

BlockBeats News, September 22nd, according to on-chain analyst Wu Ji, if ETH drops another $200, it will reach Bitmine's ETH cost basis. They currently hold 2.151 million ETH ($9 billion) at a cost basis of $3949.

Although the company has previously stated that they will not sell their holdings in the short term, the market is watching closely to see how their stock price performs if ETH falls below their cost basis, as well as their ability to increase their holdings in the future.