Tom Lee–backed BitMine Adds 40,613 ETH as Unrealized Losses Mount
Publicly traded BitMine Immersion Technology increased its Ethereum holdings during last week’s sell-off despite multibillion-dollar paper losses.
BitMine Immersion Technology, backed by strategist Tom Lee, purchased 40,613 ETH during last week’s market sell-off, adding to its Ether treasury position [2][1].
The buys expanded BitMine’s Ethereum holdings to roughly 4.3 million ETH while the firm’s paper losses grew into the multibillion-dollar range — reported between about $7.3 billion and $7.5 billion by different outlets [3][4][1].
Despite the deep drawdown, BitMine defended its accumulation strategy and continued doubling down on an Ether-centric treasury approach amid the market decline [4][2].
BitMine remains publicly traded and has continued to build its ETH treasury even as unrealized losses have widened, according to coverage of the company’s recent purchases and statements [1][4].
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Citations
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- 1Tom Lee’s BitMine Buys More Ethereum Despite $7.5 Billion Unrealized LossDecrypt• Feb 9, 2026
- 2BitMine buys 40,613 ETH during sell-off as Ether strategy faces deep drawdownCointelegraph• Feb 9, 2026
- 3Bitmine’s Ethereum Treasury Swells to 4.3M ETH—Unrealized Losses MountBitcoin.com News• Feb 9, 2026
- 4Bitmine adds 40,613 ETH during crash, defends accumulation despite $7.3B in paper lossesCrypto Briefing• Feb 9, 2026
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