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BitMine Ethereum holdings unrealized losses reach $7.35 billion

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Golden Finance reports that on May 24th, Ethereum treasury company BitMine (BMNR) currently holds 5.28 million ETH, accounting for approximately 4.37% of the total ETH supply. As ETH has retraced over 57% from its October 2025 peak, BitMine's unrealized paper loss has expanded to about $7.35 billion. BitMine launched its Ethereum treasury strategy in July 2025 and has continued to increase ETH holdings during the decline. The company's average holding cost is approximately $3,513. BitMine Chairman Tom Lee has previously stated multiple times that ETH has historically experienced a "V-shaped rebound" after significant retracements, and the current decline may still present a long-term buying opportunity.
ETH-0.58%
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