Tom Lee's BitMine Immersion added 41,000 ether as paper losses rise to $6 billion
Analysis
Price Impact
HighBitmine immersion, a major ethereum treasury firm, significantly increased its eth holdings by 41,788 tokens, amounting to $96 million, despite facing $6 billion in paper losses due to recent price dips. this aggressive accumulation by a large institutional player signals strong conviction in ethereum's long-term value.
Trustworthiness
HighThe information is sourced from coindesk, a reputable crypto news outlet, quoting specific figures from bitmine immersion's official update and chairman thomas lee's statements.
Price Direction
BullishDespite the current market downturn and increasing paper losses, bitmine's continued accumulation and increased staking of eth, coupled with chairman lee's emphasis on rising blockchain activity despite price weakness, suggest a strong underlying belief in ethereum's future appreciation. their strategy is contrarian, buying into weakness, which is often a bullish long-term signal.
Time Effect
LongThe decision by a large treasury firm to accumulate during a sharp dip, coupled with their focus on fundamental blockchain activity rather than immediate price movements, indicates a long-term investment horizon and expectation for future growth.
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Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Tom Lee's BitMine Immersion added 41,000 ether as paper losses rise to $6 billion Ether's plunging price stands in stark contrast to surging blockchain activity, marking a contrast to prior bear markets, company Chairman Tom Lee said. By Krisztian Sandor | Edited by Stephen Alpher Feb 2, 2026, 2:43 p.m. Make us preferred on Google Thomas Lee, chairman of BitMine (CoinDesk) What to know : BitMine acquired 41,788 ether last week, lifting holdings to 4.29 million tokens. Ether’s sharp weekend drop has pushed the firm’s estimated paper losses to roughly $6 billion. BMNR stock was lower by 5% in early U.S. trading on Monday. BitMine Immersion Technologies (BMNR), the largest Ethereum-focused treasury firm, continued its weekly ether ETH $ 2,276.43 purchase streak even as a sharp crypto sell-off deepened its unrealized losses and sent its stock to new 7-month lows. The firm said in a Monday update that it bought 41,788 ETH last week, its largest weekly token haul so far this year, worth around $96 million at current prices. The purchase lifted BitMine’s total ETH holdings to 4,285,125 tokens, or about 3.55% of Ethereum’s circulating supply, according to a company update released Monday. The firm also holds 193 bitcoin BTC $ 77,528.46 , $586 million in cash, a $200 million stake in Beast Industries and a $20 million stake in Eightco Holdings. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . Ether fell to around $2,300 over the weekend, pulling the firm’s total crypto, cash and equity holdings down to $10.7 billion. In Monday morning U.S. trade, the price had recovered modestly to $2,360. BMNR shares were lower by 5%> With crypto prices falling sharply last week, the firm is estimated to be sitting on roughly $6 billion in unrealized losses on its position. Chairman Thomas Lee said ether's price weakness contrasts with rising activity on the Ethereum blockchain, noting that daily transactions and active addresses recently hit record highs. "During the crypto winter of 2021-2022 or 2018-2019, Ethereum transaction activity and active wallets declined, which is counter to what we have seen in the past 12 months," Lee said. He argued that lingering effects from October’s crypto crash and the recent surge in precious metals prices have weighed on the market, sucking out liquidity from the crypto economy. BitMine has also ramped up staking, lifting its total staked ETH to nearly 2.9 million tokens, or about two-thirds of its holdings, generating an estimated $188 million in annualized staking revenue. Bitmine Ethereum News Digital Asset Treasury Thomas Lee Ethereum Treasury In this article ETH ETH $ 2,276.43 ◢ 4.39 % BTC BTC $ 77,528.46 ◢ 0.94 %