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Binance News
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Crypto News: Strategy Nears Breakeven While Bitmine Remains Deep Underwater on Ethereum Holdings
Key Takeaways
Strategy currently has a paper loss of about $195 million, or 0.3%, on its Bitcoin holdings.Bitmine remains deeply underwater, with a paper loss of approximately $6.39 billion, or 35.7%, on its Ethereum position.Strategy added 34,164 BTC last week, while Bitmine purchased 101,627 ETH.
Strategy’s Bitcoin Holdings Are Nearly Back to Breakeven
Strategy purchased another 34,164 Bitcoin last week at an average price of around $74,395, spending approximately $2.54 billion.
The company now holds a total of 815,061 BTC worth roughly $61.36 billion.
Strategy’s average acquisition price is approximately $75,527 per Bitcoin. With BTC currently trading close to that level, the company’s unrealized loss has narrowed to around $195 million, or just 0.3%.
The latest recovery in Bitcoin prices has brought Strategy close to returning to an unrealized profit position after spending much of the year underwater.
Bitmine’s Ethereum Position Remains Deeply Underwater
Bitmine purchased 101,627 Ethereum last week at an average price of around $2,305, spending approximately $234 million.
Bitmine now holds 4,976,485 ETH worth about $11.5 billion.
However, the company’s average acquisition cost is significantly higher at around $3,596 per ETH.
As a result, Bitmine is currently sitting on an unrealized loss of roughly $6.39 billion, equivalent to 35.7% of its Ethereum holdings.
Bitcoin and Ethereum Treasury Strategies Diverge
The gap between Strategy and Bitmine highlights the different performance of corporate crypto treasury strategies.
Bitcoin has recovered enough to bring large holders like Strategy close to breakeven, while Ethereum remains far below its previous highs.
That divergence has left Bitcoin-focused treasury companies in a much stronger position than firms heavily concentrated in Ethereum.
Strategy currently has a paper loss of about $195 million, or 0.3%, on its Bitcoin holdings.Bitmine remains deeply underwater, with a paper loss of approximately $6.39 billion, or 35.7%, on its Ethereum position.Strategy added 34,164 BTC last week, while Bitmine purchased 101,627 ETH.
Strategy’s Bitcoin Holdings Are Nearly Back to Breakeven
Strategy purchased another 34,164 Bitcoin last week at an average price of around $74,395, spending approximately $2.54 billion.
The company now holds a total of 815,061 BTC worth roughly $61.36 billion.
Strategy’s average acquisition price is approximately $75,527 per Bitcoin. With BTC currently trading close to that level, the company’s unrealized loss has narrowed to around $195 million, or just 0.3%.
The latest recovery in Bitcoin prices has brought Strategy close to returning to an unrealized profit position after spending much of the year underwater.
Bitmine’s Ethereum Position Remains Deeply Underwater
Bitmine purchased 101,627 Ethereum last week at an average price of around $2,305, spending approximately $234 million.
Bitmine now holds 4,976,485 ETH worth about $11.5 billion.
However, the company’s average acquisition cost is significantly higher at around $3,596 per ETH.
As a result, Bitmine is currently sitting on an unrealized loss of roughly $6.39 billion, equivalent to 35.7% of its Ethereum holdings.
Bitcoin and Ethereum Treasury Strategies Diverge
The gap between Strategy and Bitmine highlights the different performance of corporate crypto treasury strategies.
Bitcoin has recovered enough to bring large holders like Strategy close to breakeven, while Ethereum remains far below its previous highs.
That divergence has left Bitcoin-focused treasury companies in a much stronger position than firms heavily concentrated in Ethereum.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.