Bitmine Keeps Accumulating, Even as Losses Deepen 😁
#Bitmine showed no signs of slowing down last week — in fact, they doubled down. The firm quietly added another 40,613 ETH, worth roughly $82.8M, increasing their holdings even further.
This latest purchase brings their total Ethereum position to around 4.32 million $ETH — a massive stash worth billions when viewed at scale.
However, there’s a clear downside: their average buy price is near $3,847. At current market prices, that puts Bitmine’s ETH holdings at an estimated unrealized drawdown of over $7.8 billion.
Despite the heavy red, there’s been no visible sign of panic selling or aggressive de-risking. Just continued accumulation and a willingness to absorb the downside.
Whether this is pure conviction or a long-term strategic play, one thing is clear: Bitmine isn’t backing off.
