BitMine is $5.4B underwater on 5.9M ETH — and it still hasn't sold a single coin.
Its 10-K: a $6.31B net loss, $6.23B paper, as ETH fell 44% ($4,390 → $2,466). Its 5,901,837 ETH cost $19.95B, worth $14.56B; by 8 Nov it held 6,070,092 ETH — 4.97% of supply.
BitMine's ceiling is 5% of supply, so the largest ETH buyer is nearly out of room, while ETF buyers walked away five days running (-$144.8M).
ETH is $1,951 (Finnhub, 10:54 UTC), -4.66% in 24h; $2,000 broke and stayed broken, day low $1,895.95, high only $2,021.
I'm leaning short into PPI: entry $1,945–$1,960, targets $1,895.95 / $1,850 / $1,833, stop $2,005 — size light, a soft print flips this fast.
A close above $2,000 kills the lean, opens $2,060.
Soft PPI, ETH reclaims $2,000 — flip long or wait for $2,060? Drop your number.
$2,000 decides it for $ETH — PPI 13:30 UTC.
Not financial advice. DYOR.
#ETH #BitMine #PPI
Its 10-K: a $6.31B net loss, $6.23B paper, as ETH fell 44% ($4,390 → $2,466). Its 5,901,837 ETH cost $19.95B, worth $14.56B; by 8 Nov it held 6,070,092 ETH — 4.97% of supply.
BitMine's ceiling is 5% of supply, so the largest ETH buyer is nearly out of room, while ETF buyers walked away five days running (-$144.8M).
ETH is $1,951 (Finnhub, 10:54 UTC), -4.66% in 24h; $2,000 broke and stayed broken, day low $1,895.95, high only $2,021.
I'm leaning short into PPI: entry $1,945–$1,960, targets $1,895.95 / $1,850 / $1,833, stop $2,005 — size light, a soft print flips this fast.
A close above $2,000 kills the lean, opens $2,060.
Soft PPI, ETH reclaims $2,000 — flip long or wait for $2,060? Drop your number.
$2,000 decides it for $ETH — PPI 13:30 UTC.
Not financial advice. DYOR.
#ETH #BitMine #PPI
