BitMine Will Soon Stop Buying ETH. Here’s Where Its New Coins Come From
AI summary
BitMine reported a $6.3 billion net loss for the year to August 31, almost entirely from unrealized declines in its Ethereum holdings, according to its annual report. Staking generated roughly 97% of the company's revenue over the same period. BitMine says it will soon stop buying ETH, meaning that staking income must now carry more of the load, a shift traders may read as reduced institutional demand for the asset.
Narrative history
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1H AGOYou’re reading thisBitMine Will Soon Stop Buying ETH. Here’s Where Its New Coins Come FromBeInCrypto · Score 55
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9 NOV · 17:20Bitcoin.com News · Score 45 · via Bitmine, Tom
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9 NOV · 15:36CryptoPotato · Score 45 · via BitMine buys, BitMine
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9 NOV · 14:32The Block · Score 55 · via Lee Bitmine, 5% supply
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2 NOV · 16:23Decrypt · Score 45 · via Bitmine, Lee
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2 NOV · 15:55Bitcoin.com News · Score 45 · via Bitmine, Tom
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2 NOV · 14:30Unchained · Score 45 · via Bitmine, $15B
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2 NOV · 14:06CryptoPotato · Score 55 · via Lee bull, Lee
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26 OCT · 17:13Unchained · Score 35 · via Bitmine, 5% supply
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26 OCT · 16:05CoinDesk · Score 35 · via Lee Bitmine, Lee
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26 OCT · 14:12The Block · Score 35 · via Bitmine, Bitmine adds
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26 OCT · 13:50crypto.news · Score 55 · via 10,452, 10,452 ETH
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22 OCT · 12:30Bitcoin.com News · Score 45 · via Stop Buying, Buying ETH
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20 OCT · 05:14BeInCrypto · Score 25 · via Lee, Tom
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19 OCT · 17:55CryptoPotato · Score 25 · via BitMine buys, Lee
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19 OCT · 17:55Bitcoin.com News · Score 45 · via Bitmine, Tom
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19 OCT · 15:13Decrypt · Score 45 · via Bitmine, Lee
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19 OCT · 13:36The Block · Score 45 · via 12535, 12535 ETH
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12 OCT · 15:27CoinDesk · Score 47 · via adds ether, Bitmine
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12 OCT · 13:43The Block · Score 47 · via Lee calls, Bitmine buys
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12 OCT · 13:33Decrypt · Score 42 · via Bitmine adds, Bitmine
