Tom Lee’s BitMine Is Down $4.2 Billion On Its ETH — And BMNR Down 85% From Its Peak
BitMine Immersion Inc. (NASDAQ:BMNR) is staring at a $4.21 billion Ethereum (CRYPTO: ETH) portfolio loss — a blow so large that BMNR has crashed back into its last major support zone.
Bitmine’s ETH Holdings Sink As Portfolio Value Drops $4.21B
Dropstab data shows that Bitmine invested about $14.01 billion into its ETH Strategy Portfolio, accumulating 3.51 million ETH at an average cost of $3,997 per token.
With Ethereum now trading around $2,790, the position has shifted deep into unrealized losses.
The portfolio’s value sits near $9.81 billion, putting Bitmine down roughly $4.21 billion, or about 30% from its cost basis.
The decline is fully mark-to-market — the firm has generated zero realized profit, confirming that none of the ETH has been sold.
The past week alone added pressure.
The portfolio fell about $1.50 billion in seven days, tracking Ethereum’s 12.33% weekly slide.
The move shows how sensitive …
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