US Edition9 Articles
9 Articles
BitMine Faces $8 Billion Loss as Ethereum Drops Below $2,000
TLDR BitMine holds 4.29 million ETH, now worth $8 billion less than its initial investment. Ethereum’s price drop to below $2,000 has caused significant unrealized losses for the company. BitMine’s stock has fallen 88% from its peak in July, reflecting investor concerns over Ethereum exposure. The company continues to accumulate Ethereum and generates income through staking despite the downturn. BitMine is not under pressure to liquidate its as…
The Ethereum-based treasury company, led by Tom Lee, faces a sharp deterioration in the value of its holdings following the fall in ETH’s price, although it claims that it has no pressure to sell its assets. *** BitMine accumulated 4.29 million ETH at an estimated cost of $16.4 billion. The current value of the position is around $8.4 billion after the fall of the market, especially now that Ethereum lost the US$2.000 mark. The company claims th…
Tom Lee's BitMine ETH holdings are down $8B as crypto crashes
BitMine’s ethereum (ETH) holdings have made unrealized losses of over $8 billion today as part of a wider crypto crash that the firm’s chairman, Tom Lee, described as “a feature, not a bug.” The former JP Morgan strategist became chairman of the bitcoin (BTC) mining firm BitMine Immersion Technologies in June 2025 as it pivoted towards buying up ether (ETH). Since August 24, 2025, when ETH’s hit an all-time high of $4,946, BitMine has spent ove…
BitMine (BMNR) stock slides as Ethereum breaks $2,000 — what traders watch next
New York, Feb 5, 2026, 13:48 EST — Regular session Shares of BitMine Immersion Technologies dropped 10.3% to $18.20 in afternoon trading Thursday, following a new selloff in ether and related crypto assets. The decline is significant since BitMine has linked its balance sheet to Ethereum, effectively making its stock a liquid option for equity investors to bet on ETH without owning actual tokens. This connection has grown stronger amid the crypt…
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