Feb. 3 at 10:10 AM
JUST IN — BITMINE / TOM LEE’S ETH TREASURY ISN’T “DIPPING”… IT’S GETTING REPRICED
BitMine Immersion (
$BMNR ), the
$ETH ‑heavy treasury chaired by Tom Lee, is now sitting on ~
$6.9B+ unrealized losses as Ethereum trades around ~
$2.3K — roughly ~40% below its average entry. Ether holdings have swelled to ~4.28M ETH (≈3.55% of total supply) as the firm continues stacking even in weakness.
This isn’t your typical pullback — it’s a full‑cycle drawdown that’s testing balance sheets and conviction alike. BMNR even added ~41K ETH (~
$96M) last week while paper losses ballooned.
$BMNR stock has slid to multi‑month lows as markets deleverage and liquidity thins, underscoring how brutal this correction has been.
Yet despite the pain, the firm keeps buying and staking ETH — turning volatility into accumulation and yield. Conviction or stubbornness? Either way, this is the kind of drawdown that shapes outcomes.
