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Bitmine's Significant Losses in ETH Position
The Ether treasury company Bitmine's $ETH portfolio is experiencing notable developments during this period. The company has made a total Ethereum purchase of $12.4 billion, with an unrealized loss of $3.5 billion from these investments.
An interesting point is that Bitmine is making progress toward its goal of owning 5% of the total supply of the Ethereum network. Currently, it has completed two-thirds of this target. This move can be seen as an indicator of institutional investors' long-term strategies toward crypto assets.