Tom Lee's BitMine Buys the Ethereum Dip, Even as Unrealized Losses Top $6 Billion

Publicly traded Ethereum treasury firm BitMine Immersion Technologies (BMNR) acquired another 41,788 ETH, valued around $96 million, over the last week as its unrealized losses continue to mount as the price of the crypto asset craters. The firm now holds 4,285,125 ETH—more than 3.5% of the circulating supply of Ethereum—which is valued at $9.9 billion. However, it has racked up more than $6 billion in unrealized losses based on data from its most recent 10-Q filing with the SEC as ETH tumbles to a recent p ...