From TokenPost · · 50s
Bitmine's ETH Holdings Drop $1.1 Billion
Bitmine's crypto holdings fell $1.1 billion despite adding 12,535 Ether as ETH price dropped.
In brief
Bitmine's crypto holdings fell $1.1 billion despite adding 12,535 Ether as ETH price dropped. Bitmine's gross holdings value dropped $1.1 billion in a week as ETH price fell from $2,544 to $2,365. Originally reported by TokenPost.
Bitmine adds 12,535 Ether
Bitmine added 12,535 Ether in the week ended Oct. 18, but its gross holdings value fell $1.1 billion as the price used to value ETH declined.
Gross Holdings Value
Bitmine held 6,041,481 ETH at 3 p.m. ET on Oct. 18, with crypto assets, cash, securities and other investments totaling $15.1 billion.
Price Drop Offset ETH Increase
The price used for ETH dropped from $2,544 to $2,365, causing a $179 decline per token that more than offset the increase in ETH balance.
The takeaway
Bitmine's gross holdings value dropped $1.1 billion in a week as ETH price fell from $2,544 to $2,365.
