Bitmine Leads Ethereum Institutional Holdings With $11.32B in 3.4M ETH; SharpLink Second With 860K ETH

COINOTAG News reports, citing strategicethreserve data, that Bitmine (BMNR) remains at the top of Ethereum institutional holdings, holding roughly 3.4 million ETH. The position translates to about $11.32 billion in value, reflecting a ~20% expansion over the last 30 days. The stockpile carries an average cost basis of $4,037 per ETH, with an unrealized loss of about $2.4 billion.

Following Bitmine is SharpLink (SBET), with 860k ETH (~$2.86 billion), up ~2.5% in the past 30 days. Its average cost sits at $3,609 and the unrealized loss is about $170 million.

The latest mNAV readings stand at 0.99 for Bitmine and 0.87 for SharpLink. Bitmine’s current market value is about $11.236 billion, SharpLink’s about $2.297 billion, both below their reported ETH holdings value.