Bitmine and SharpLink's Ethereum Staking Pool Total Loss Expands to $2.57 Billion, with mNAV Below 1

On November 5th, based on strategicethreserve data, Bitmine (BMNR) ranked first in Ethereum institutional holdings. It is currently holding approximately 3.4 million ETH, which is worth about $11.32 billion. In the past 30 days, its holdings have increased by 20%. The average cost is $4,037, and there is an unrealized loss of about $2.4 billion. SharpLink (SBET) ranked second in Ethereum institutional holdings. It is currently holding 860,000 ETH, worth about $2.86 billion. In the past 30 days, its holdings have increased by 2.5%. The average cost is $3,609, and there is an unrealized loss of about $170 million. It is worth noting that the mNAV (Multiple Net Asset Value) of the two companies is currently 0.99 and 0.87 respectively. The current market value of Bitmine is $11.236 billion, and the current market value of SharpLink is $2.297 billion. Both are lower than the value of their Ethereum holdings.