Tom Lee’s BitMine now about $8B underwater as Ether falls below $2,000
BitMine’s large Ethereum treasury has swung into massive unrealized losses as ETH weakness hits the firm's stock.
BitMine Immersion Technologies is sitting on roughly $6–8 billion in unrealized losses after ether tumbled below $2,000, leaving the firm’s large ETH treasury deeply underwater [1][2][6].
The share price reacted sharply: BitMine shares slid into a seven‑month low and fell intraday as much as about 8%, with some reports noting the stock is down roughly 88% from its peak, reflecting mounting investor pressure amid the paper losses [3][4][2].
Company leadership has said it is not under immediate pressure to liquidate its ETH holdings and has defended the treasury strategy despite the unrealized losses, a stance reiterated publicly as the market declined [1][5].
The situation remains an unrealized, or paper, loss tied to ether’s price move; BitMine has emphasized a long‑term posture as markets react to the drop below $2,000 for ETH [1][4].
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Citations
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- 1Tom Lee's Bitmine now $8 billion underwater as ether tumbles below $2,000CoinDesk• Feb 5, 2026
- 2BitMine’s ETH stack plunges into $8B loss as Ethereum drops below $2KCrypto Briefing• Feb 5, 2026
- 3BitMine Stock Slides 8% as Ethereum Drop Pushes $8B Paper LossCoinpaper• Feb 5, 2026
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- 5Tom Lee Defends Bitmine’s Ethereum Treasury StrategyBitcoin.com News• Feb 5, 2026
- 6Tom Lee's BitMine Faces $6-8B Loss As Ethereum Falls Below $2,000Yellow• Feb 5, 2026
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