{"id":70406,"date":"2026-02-02T16:32:01","date_gmt":"2026-02-02T16:32:01","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=70406"},"modified":"2026-02-02T16:32:01","modified_gmt":"2026-02-02T16:32:01","slug":"tom-lees-bitmine-down-6b-on-ethereum-but-heres-why-he-keeps-buying","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=70406","title":{"rendered":"Tom Lee&#8217;s BitMine Down $6B On Ethereum, But Here&#8217;s Why He Keeps Buying"},"content":{"rendered":"<div>\n<p><strong>BitMine Immersion Technologies<\/strong> <a href=\"https:\/\/www.benzinga.com\/quote\/BMNR\" target=\"_blank\" class=\"ticker-link\" data-ticker=\"BMNR\" data-exchange=\"NYSE\" rel=\"noopener\">(NYSE:<\/a><a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/BMNR\">BMNR<\/a>) is sitting on over $6 billion in paper losses after <strong>Ethereum<\/strong> <a href=\"https:\/\/www.benzinga.com\/quote\/ETH-USD\" target=\"_blank\" class=\"ticker-link\" data-ticker=\"ETH\" data-exchange=\"CRYPTO\" rel=\"noopener\">(CRYPTO: <\/a><a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/eth\/usd\">ETH<\/a>) crashed from $3,000 to $2,300, yet chairman <strong>Tom Lee<\/strong> added 41,788 ETH last week at an average price of $2,317.<\/p>\n<h3 class=\"wp-block-heading\">The Underwater Position<\/h3>\n<p>BitMine now <a href=\"https:\/\/www.prnewswire.com\/news-releases\/bitmine-immersion-technologies-bmnr-announces-eth-holdings-reach-4-285-million-tokens-and-total-crypto-and-total-cash-holdings-of-10-7-billion-302676048.html\">holds<\/a> 4.285 million ETH\u2014representing 3.55% of total Ethereum supply\u2014worth approximately $9.6 billion at current prices.\u00a0<\/p>\n<p>The position peaked at nearly $14 billion in October before the recent selloff.<\/p>\n<p>Total holdings include $10.7 billion in crypto and cash: 4.285 million ETH, 193 <strong>Bitcoin<\/strong> <a href=\"https:\/\/www.benzinga.com\/quote\/BTC-USD\" target=\"_blank\" class=\"ticker-link\" data-ticker=\"BTC\" data-exchange=\"CRYPTO\" rel=\"noopener\">(CRYPTO: <\/a><a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/btc\/usd\">BTC<\/a>), $586 million in cash, a $200 million stake in <strong>Beast Industries<\/strong>, and a $20 million stake in <strong>Eightco Holdings<\/strong> <a href=\"https:\/\/www.benzinga.com\/quote\/ORBS\" target=\"_blank\" class=\"ticker-link\" data-ticker=\"ORBS\" data-exchange=\"NASDAQ\" rel=\"noopener\">(NASDAQ:<\/a><a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/ORBS\">ORBS<\/a>).<\/p>\n<h3 class=\"wp-block-heading\">Lee\u2019s Conviction Despite Losses<\/h3>\n<p>Tom Lee defended the accumulation strategy on CNBC, <a href=\"https:\/\/www.cnbc.com\/video\/2026\/02\/02\/all-the-pieces-are-in-place-for-crypto-to-be-bottoming-right-now-says-fundstrats-tom-lee.html\">pointing<\/a> to strengthening Ethereum fundamentals despite price weakness.<\/p>\n<p>Network activity hit &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/crypto\/cryptocurrency\/26\/02\/50305123\/tom-lees-bitmine-down-6b-on-ethereum-but-heres-why-he-keeps-buying?utm_source=benzinga_taxonomy&amp;utm_medium=rss_feed_free&amp;utm_content=taxonomy_rss&amp;utm_campaign=channel\" alt=\"Tom\" lee bitmine down on ethereum but here why he keeps buying>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>BitMine Immersion Technologies (NYSE:BMNR) is sitting on over $6 billion in paper losses after Ethereum (CRYPTO: ETH) crashed from $3,000 to $2,300, yet chairman Tom Lee added 41,788 ETH last week at an average price of $2,317. The Underwater Position BitMine now holds 4.285 million ETH\u2014representing 3.55% of total Ethereum supply\u2014worth approximately $9.6 billion at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-70406","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/70406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=70406"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/70406\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=70406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=70406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=70406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}