Ethereum Price Has Now Dropped Below Bitmine's Cost Basis

BlockBeats News, September 25th, according to @EmberCN, Bitmine revealed that they purchased 264,000 ETH last week (worth $1.2 billion), bringing their total ETH holdings to 2.416 million. Based on the amount they disclose weekly and the average weekly ETH price, their average cost is estimated to be around $4,016.

Currently, the spot market price of Ethereum ($4,010) has fallen below Bitmine's holding cost.

Bitmine's stock price is down 2.35% in pre-market trading.