BitMine has raised an additional $274 million. On paper, that sounds impressive—but there’s another side to the coin. Today, the company holds a significant amount of ETH. However, ETH remains well below its all-time high, leaving this position with billions of dollars in unrealized losses. It has been stated that a substantial portion of the new funds will be used to purchase more ETH, meaning the company is continuing to increase its position rather than reduce its risk. If ETH rises, the strategy will look brilliant. But if the decline continues, the losses will grow larger.
Share
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.