Tom Lee's BitMine Immersion added 41,000 ether as paper losses rise to $6 billion

Core Viewpoint - BitMine Immersion Technologies (BMNR) continues to purchase Ethereum (ETH) despite a significant sell-off in the crypto market, resulting in unrealized losses and a decline in stock price to a 7-month low [1][3]. Group 1: Company Holdings and Financials - BMNR purchased 41,788 ETH last week, the largest weekly acquisition this year, valued at approximately $96 million, increasing total ETH holdings to 4,285,125 tokens, representing about 3.55% of Ethereum's circulating supply [2]. - The firm also holds 193 bitcoin (BTC), $586 million in cash, a $200 million stake in Beast Industries, and a $20 million stake in Eightco Holdings [2]. - The total value of BMNR's crypto, cash, and equity holdings has decreased to $10.7 billion due to falling crypto prices, with an estimated $6 billion in unrealized losses [3]. Group 2: Market Activity and Trends - Despite the price weakness of ether, there has been a rise in activity on the Ethereum blockchain, with daily transactions and active addresses reaching record highs [4]. - The chairman noted that the current situation contrasts with previous crypto winters, where transaction activity and active wallets declined [4]. - The market has been affected by the lingering effects of October's crypto crash and a surge in precious metals prices, which have drained liquidity from the crypto economy [5]. Group 3: Staking and Revenue - BMNR has increased its staking activities, raising total staked ETH to nearly 2.9 million tokens, which is about two-thirds of its holdings, generating an estimated annualized staking revenue of $188 million [5].