The company purchased 76.9 thousand ETH at an average price of $1,660 for $127.7 million. They now own 5.6 million ETH, representing 4.7% of the coin's supply. With a total investment of $19.2 billion in ETH at an average price of $3,400, BitMine's losses amount to $9.1 billion (47.7%). To achieve their goal of holding 5% of the ETH supply, the company needs to purchase an additional 414 thousand ETH ($739.4 million). To fund these purchases, BitMine has filed an application with the SEC for a securities offering under the Strategy model, yielding 9.5-15% annually. At the same time, Strategy itself purchased 1.6 thousand BTC at an average price of $63,000. The purchase was financed through the issuance of MSTR shares worth $209 million. Strategy now owns 846.8 thousand BTC ($55.8 billion), representing 4% of the coin. The company's unrealized loss is $8.3 billion (14.8%).
News Institutional
BitMine has increased its ETH holdings to $10 billion.
The company purchased 76.9 thousand ETH at an average price of $1,660 for $127.7 million. They now own 5.6 million ETH, representing 4.7% of the coin's supply. With a total investment of $19.2 billion...