Bitmine's Ethereum bet nears $9 billion loss as ether falls below $1,800
Bitmine Immersion Technologies is facing nearly $9 billion in unrealized losses as the price of Ethereum dropped below $1,800. The company's stock has hit its lowest point since it pivoted to an Ethereum-heavy treasury strategy in 2025.
Why it matters
The massive losses highlight the risks of corporate treasury strategies heavily concentrated in volatile cryptocurrency assets.
Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitmine s Ethereum bet nears $9 billion loss as ether falls below $1,800 Shares of Tom Lee s Ethereum treasury firm hit their lowest level since the company s crypto pivot as ETH revisits the February lows. By Krisztian Sandor | Edited by Stephen Alpher Jun 3, 2026, 8:33 p.m. 2 min read Make preferred on Tom Lee, chairman of Bitmine and cofounder of Fundstrat, speaking at Consensus 2026 in Miami (CoinDesk) What to know : Bitmine, the largest Ethereum treasury firm, is sitting on an estimated $8.9 billion in unrealized losses as ETH fell below $1,800 in the latest crypto pullback. The company’s shares hit their lowest level since it adopted its Ethereum treasury strategy in May 2025. The selloff highlights the growing gap between Bitmine Chairman Tom Lee s bullish calls and current market weakness. Bitmine Immersion Technologies (BMNR), the largest corporate holder of ether (ETH), is staring at nearly $9 billion in losses as the token s slide below $1,800 drags down the value of its massive treasury.
The article reports on financial data and market performance without taking a political stance.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in