๐จ๐ฅ BitMineโs Massive Ethereum Bet Turns Into a Historic Loss ๐ฅ๐จ
BitMineโs bold Ethereum strategy has just entered the history books โ and not in a good way ๐ฌ๐
What was meant to be a legendary conviction play has turned into one of the largest unrealized losses ever seen in finance.
Hereโs whatโs unfolding ๐
๐งจ The Big Bet
BitMine Immersion Technologies went all in on Ethereum.
The vision?
๐ Transform the company into a corporate $ETH treasury ๐ฆ๐
๐ Eventually own 5% of the entire Ethereum supply
They came shockingly close ๐ฎ
๐ Current Holdings
๐ช 4.28 million ETH
๐ ~3.55% of total ETH supply
๐ฐ How Much Is on the Line?
BitMine accumulated ETH at an average price of $3,800โ$3,900 ๐
ETH in 2026 is now trading around $2,200โ$2,400 ๐
That means:
๐ธ ~$15.7B invested
๐ ~$9.2B current value
๐จ $6.5โ$6.9B unrealized loss
This loss now sits in the same league as legendary financial disasters:
๐ฆ JPMorganโs London Whale
๐ฅ Amaranth Advisors
๐งฎ Long-Term Capital Management (LTCM)
โ ๏ธ Why This Is So Dangerous
BitMine controls more ETH than most exchanges trade in weeks ๐ณ
If BitMine were ever forced to sell:
โ Daily ETH volume couldnโt absorb it
๐ Slippage would be brutal
๐ฅ ETH price could drop 20โ40% rapidly
๐ This would become the largest single liquidation event in crypto history ๐งจ๐ช
๐ง Tom Lee Isnโt Backing Down
Despite the drawdown, Tom Lee, who is running the strategy, remains firm ๐ช
In fact, during the crash, BitMine bought an additional 41,788 ETH ๐๐ฅ
๐ฃ His long-term thesis:
๐ Ethereum usage is at all-time highs
๐๏ธ Institutions are actively building on ETH
๐ Staking generates ~$374M per year
โณ Long-term conviction > short-term pain
๐งช The Bigger Picture
This isnโt just a company trade gone wrong.
Itโs a real-world stress test for institutional crypto adoption ๐งชโ๏ธ
The outcome will matter โ not just for BitMine, but for how large institutions approach crypto risk, liquidity, and conviction going forward ๐๐
#Ethereum #ETHMarketWatch #EthTrend #MarketCorrection
