Bitmine Adds Another $47.98M in Ethereum Amid Market Weakness

Despite ongoing market weakness, Bitmine has continued to expand its Ethereum holdings.

Roughly 10 hours ago, the company received an additional 25,000 ETH, valued at about $47.98 million, from BitGo.

This latest transfer adds to Bitmine’s already substantial position. The firm now holds approximately 5,416,901 ETH, with a total valuation near $10.03 billion. Based on current market prices, its position is reportedly showing an unrealized loss of around $8.9 billion.

Source: Lookonchain