As the crypto market continues to decline, Ethereum reserve companies are facing increasing pressure. The world's largest ETH holding institution, Bitmine, has a paper loss of approximately $8.8 billion, with ETH's current price well below its average acquisition cost of $3,843. Over the past six months, it has fallen by 60%. The second-largest Ethereum reserve company, SharpLink Gaming, currently has a paper loss of about $1.4 billion, with an average acquisition cost of $3,609; the third-largest holding institution, The Ether Machine, owns 496,712 ETH, with a paper loss close to $948 million, and an average cost of approximately $3,788. (Cointelegraph)
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As the crypto market continues to decline, Ethereum reserve companies are facing increasing pressure. The world's largest ETH holding institution, Bitmine, has a paper loss of approximately $8.8 billion, with ETH's current price well below its average acquisition cost of $3,843. Over the past six months, it has fallen by 60%. The second-largest Ethereum reserve company, SharpLink Gaming, currently has a paper loss of about $1.4 billion, with an average acquisition cost of $3,609; the third-largest holding institution, The Ether Machine, owns 496,712 ETH, with a paper loss close to $948 million, and an average cost of approximately $3,788. (Cointelegraph)