Bitmine expands Ethereum holdings despite $10 billion unrealized loss

Bitmine Immersion Technologies continued to add to its Ethereum treasury, buying an additional 25,000 ETH and bringing its total to 5,543,872 ETH – roughly 4.6 % of the token’s circulating supply and close to the firm’s “Alchemy of 5 %” target. The latest purchase, valued at about $207 million at $1,630 per ETH, pushes the company’s cumulative ETH investment past $19 billion, while the current market value of the holdings reflects unrealized losses exceeding $10 billion.

Company chair Tom Lee says the firm views the recent price dip as a temporary crypto‑winter phase and expects Ethereum demand to grow alongside AI developments. Bitmine has also staked about 4.7 million ETH, generating an estimated $230 million in annual staking revenue. In parallel, CME Group and Nasdaq launched a crypto index futures contract that tracks eight major digital assets, including Ethereum, signaling growing institutional interest in crypto derivatives.

Despite the large paper loss, Bitmine remains committed to expanding its position, aiming to lock in 5 % of Ethereum’s total supply within the year.