Bitmine has repurchased nearly 42,000 ETH! The total holdings have increased to 4.285 million ETH, but the paper unrealized loss has soared to $6.5 billion.

Bitmine increased its holdings by nearly 42,000 ETH last week, expanding its total holdings to 4.285 million ETH. However, as the crypto market experiences a significant downturn, Bitmine is currently facing an unrealized loss of up to $6.5 billion.
(Background: Tom Lee’s Bitmine Ethereum unrealized losses hit a new high of $6 billion, with two whales cutting losses during ETH decline)
(Additional context: Bitmine invests another $120 million to buy 40,000 ETH! Total holdings soar to 4.24 million ETH, but unrealized losses reach $4 billion)

Table of Contents

• Bitmine Asset Allocation
• Latest Staking ETH Developments: Bitmine Leads Globally
• Tom Lee: Still Confident in Ethereum
• Bitmine Unrealized Losses of $6.5 Billion

The world’s largest Ethereum reserve company, Bitmine Immersion Technologies (BMNR), announced today (2nd) that over the past week, the company has added another 41,788 ETH, demonstrating its confidence in long-term Ethereum investment. Bitmine Executive Chairman Tom Lee also stated that this correction presents a good buying opportunity, and the company will continue to expand its ETH holdings, believing in its future role as a financial core.

Bitmine Asset Allocation

According to the announcement, as of February 1, 2026, Bitmine holds crypto assets including: 4.285 million ETH (at $2,317 each), 193 Bitcoin (BTC), a $200 million investment in Beast Industries, and a $20 million “Moonshots” investment in Eightco Holdings (NASDAQ: ORBS). Additionally, Bitmine holds $586 million in cash, bringing its total crypto assets + cash + “Moonshots” to $10.7 billion. Moreover, the ETH held by Bitmine accounts for 3.55% of the total ETH supply, surpassing 70% of the “Alchemy 5%” target.

Lee emphasized that despite ETH’s price dropping from around $3,000 to $2,300 over the past month, on-chain activity and active addresses have hit record highs, indicating strong fundamentals.

Latest Staking ETH Developments: Bitmine Leads Globally

According to the announcement, Bitmine’s total staked ETH amounts to 2,897,459 ETH (roughly $6.7 billion), an increase of 888,192 ETH from last week, representing about 67% of the company’s ETH holdings. Lee stated that Bitmine’s staking volume now surpasses other entities worldwide, with an annualized staking yield of $374 million, translating to daily earnings of over $1 million.

At the same time, Bitmine is actively deploying the “Made in America Validation Network” (MAVAN) staking program, collaborating with three staking service providers, with plans to launch in early 2026, providing secure and scalable staking infrastructure.

Tom Lee: Still Confident in Ethereum

In the announcement, Lee pointed out that the recent decline in ETH price is mainly due to non-fundamental factors, such as leverage capital not returning to the crypto market and a shift in risk appetite due to rising precious metal prices. He also mentioned that gold’s recent trend is very similar to that of 1979-1980, and the recent single-day drop may indicate a short-term price peak.

Lee emphasized that Bitmine remains confident in Ethereum’s long-term prospects, believing that ETH’s current price does not fully reflect its high utility and future role as a financial infrastructure, and the company will continue to accumulate assets.

Bitmine Unrealized Losses of $6.5 Billion

It is also worth noting that despite Bitmine continuously increasing its ETH holdings and Tom Lee maintaining a bullish outlook, on-chain data analyst Ember’s latest statistics show that Bitmine’s average cost basis for ETH is $3,837 per ETH, far above the current market price, resulting in an unrealized loss of up to $6.5 billion.

The largest Bitcoin and Ethereum treasury companies’ purchase activity last week:

◎ Bitcoin treasury company @Strategy (MSTR) bought 855 BTC at $87,974 last week ($75.22 million).
They now hold a total of 713,502 BTC ($54.263 billion), with an average cost basis of $76,052, and an unrealized profit of $1.332 billion.

◎ Ethereum treasury company @BitMNR (BMNR) bought approximately 41,787 ETH at about $2,601 last week… pic.twitter.com/C6j6jQnnWy

— Ember (@EmberCN) February 2, 2026