Bitmine Holds 3.53 Million ETH, Ethereum Unrealized Loss Reaches $658 Million at a $3,637.79 Avg Cost

COINOTAG News, in a report dated November 12 and citing on-chain analyst Ai Auntie (@ai_9684xtpa), notes that Bitmine has disclosed an Ethereum position of 3,505,723 ETH, with an average cost basis of $3,639 per ETH. The disclosure underscores the firm’s substantial ETH holdings and offers insight into its exposure to the leading smart-contract asset.

Following a fresh addition of 24,007.35 ETH, the updated cost basis stands at $3,637.79 per ETH, implying a current unrealized loss of approximately $658 million at prevailing prices. The figures illustrate how large on-chain portfolios react to market moves and emphasize the importance of tracking unrealized losses for risk assessment.