BitMine Down $8.9B in ETH, Strategy Down $7.6B in BTC on June 3

According to Whale Insider data, BitMine Immersion's Ethereum position is down $8.9 billion while Strategy's Bitcoin holdings have lost $7.6 billion as of June 3. Despite the unrealized losses, BitMine purchased 26,497 ETH worth approximately $52.6 million last week, bringing its total ETH holdings to 5,416,901 tokens valued at roughly $10.75 billion, representing 4.49% of Ethereum's circulating supply. BitMine Chairman Tom Lee stated, "Over the past week, we acquired 26,497 ETH. In our view, ETH prices are not reflecting the strengthening of Ethereum fundamentals."

Meanwhile, Strategy sold 32 BTC worth approximately $2.47 million last week at an average price of $77,135, marking the company's first Bitcoin sale since December 2022. Strategy remains the largest corporate Bitcoin holder globally despite the transaction.