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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
05/25/2026

Tom Lee's BitMine Faces $7.35B in Unrealized Ethereum Losses

What happened: BitMine Immersion Technologies holds 5,278,462 ETH at an average cost of $3,513, while ETH trades at ~$2,095—resulting in an unrealized loss of $7.

Tom Lee's BitMine Faces $7.35B in Unrealized Ethereum Losses

What happened: BitMine Immersion Technologies holds 5,278,462 ETH at an average cost of $3,513, while ETH trades at ~$2,095—resulting in an unrealized loss of $7.35 billion. ETH is down 57% from its October 2025 peak, and BitMine's stock is down 32% year-to-date. Technical analysis points to a possible further 25% drop to $1,600, which would push losses past $10 billion.

Why it matters: The scale of BitMine's paper losses highlights the risks of concentrated treasury strategies in volatile crypto markets. While Tom Lee remains bullish and targets further accumulation, market analysts warn that ETH could be "dead money" for months. The story underscores the tension between long-term conviction and short-term market realities for institutional crypto holders.

Source: Cointelegraph; PRNewswire; CoinDesk