Bitmine Immersion Shares Sink 9% on $7B Ethereum Paper Loss as Chairman Defends Strategy

Bitmine Immersion Technologies reported over $7 billion in unrealized losses on its Ethereum treasury. Reports highlighted the paper losses on February 5, 2026.

Ether (ETH) hit a local low during a sharp downturn in the cryptocurrency market. This price decline tested the company's aggressive accumulation strategy.

BMNR shares fell more than 9% following the market reaction. Chairman Tom Lee defended the strategy as an expected feature of long-term conviction in Ethereum.