Bitmine estimated to have $2.1B in unrealized ETH losses amid market downturn

Nasdaq-listed Bitmine (BMNR), a company heavily invested in Ethereum, is estimated to have an unrealized loss of approximately $2.1 billion on its ETH holdings amid the market downturn, The Crypto Basic reported. As of Oct. 5, the company held around 2.83 million ETH at an average purchase price of $4,535. It is also estimated to have acquired an additional 33,323 ETH, worth $126.4 million, during the price decline.