Analyst: BitMine's ETH Holding Cost is approximately $4020, and this additional purchase slightly lowered the average price.

BlockBeats News, November 10th, on-chain data analyst Yu Jin posted on social media, stating that Bitmine purchased 110,000 ETH last week (approximately $385 million), bringing its total ETH holdings to 3.505 million ETH (approximately $12.42 billion).

However, its overall cost for ETH is as high as $4,020, currently suffering a significant unrealized loss of $1.66 billion. This additional purchase is considered a move to lower the average acquisition price.