BitMine’s ETH cost basis is $19.9 billion, while its market value at fiscal year-end was just $14.6 billion.
According to CryptoPotato, this puts the company’s ETH holdings at an unrealized loss of $6.3 billion. The source provides only these two data points—cost basis and market value at fiscal year-end—and does not disclose any sales. The average purchase price can only be inferred from the $19.9 billion total.
· This is a change in book value, not a realized loss.
· Going forward, watch whether the number of holdings or the price of ETH changes.
Which matters more to you: changes in the number of ETH held, or ETH’s price returning to its cost basis?
According to CryptoPotato, this puts the company’s ETH holdings at an unrealized loss of $6.3 billion. The source provides only these two data points—cost basis and market value at fiscal year-end—and does not disclose any sales. The average purchase price can only be inferred from the $19.9 billion total.
· This is a change in book value, not a realized loss.
· Going forward, watch whether the number of holdings or the price of ETH changes.
Which matters more to you: changes in the number of ETH held, or ETH’s price returning to its cost basis?
