PANews February 4th News, according to The Block, BitMine Chairman Tom Lee refuted claims that its unrealized Ethereum losses would suppress future ETH prices. He stated that unrealized losses during market downturns are “a feature of the Ethereum treasury strategy, not a flaw,” and pointed out that such drawdowns are an expected part of market cycles.
Previously, market commentary suggested that BitMine holds approximately $6.6 billion in unrealized losses, and that the accumulated Ethereum would eventually create selling pressure and limit price growth. Lee responded by saying that this view misunderstands the positioning of the Ethereum treasury, emphasizing that BitMine aims to track Ethereum prices and achieve excess returns throughout full market cycles. He compared this to how index ETFs can incur losses during broad market declines.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Polkadot Undergoes Bridge Exploit, Attacker Mints 1B $DOT on Ethereum
Polkadot faced a major security breach where an attacker minted 1B $DOT coins on Ethereum via a 3rd-party bridge, draining over $240,000 in $ETH. This incident highlights ongoing vulnerabilities in cross-chain infrastructure and its impact on market stability.
BlockChainReporter45m ago
Bitmine gets promoted to the NYSE main board! Tom Lee: U.S. stocks may be bottoming out, and selling pressure on Ether could ease
Bitmine has officially moved from the NYSE American board to the main board in the United States, marking an important milestone for the company. Despite a sharp drop in its share price, it has still increased the share repurchase plan to $4 billion. The company holds a large amount of Ether, and it expects that a rebound in the crypto market will help improve its assets and share price performance.
CryptoCity1h ago
Nasdaq-listed miner Bit Digital stakes 29.9k ETH
Gate News message: On April 13, according to monitoring by Onchain Lens, Bit Digital—an Nasdaq-listed mining company—staked 29.9k ETH, worth approximately $65.3 million.
GateNews1h ago
