Analysis: If ETH were to drop by another $200, it would reach Bitmine's cost basis for ETH holdings.

BlockBeats News, September 22nd, according to on-chain analyst Yu Jin’s monitoring, ETH is approaching Bitmine’s ETH holding cost price with a $200 drop. They currently hold 2.151 million ETH ($9 billion), with a cost price of $3949.

Although the company has previously stated that they will not sell their holdings in the short term, the market is watching closely to see how their stock price will perform if ETH falls below the cost price, as well as their ability to increase their holdings in the future.