Tom Lee's BitMine Posts $3.8 Billion Quarterly Loss Due to Ethereum Price Plunge

Decrypt04-15

In brief BitMine posted a net loss of more than $3.8 billion during the three-month stretch ending in February. The firm attributes most of the losses to the unrealized or paper losses mounting from ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTom Lee's BitMine Posts $3.8 Billion Quarterly Loss Due to Ethereum Price Plunge\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-04-15 17:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://decrypt.co//364472/tom-lees-bitmine-posts-3-8-billion-loss-ethereum-price-plunge><strong>Decrypt</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In brief\nBitMine posted a net loss of more than $3.8 billion during the three-month stretch ending in February.\nThe firm attributes most of the losses to the unrealized or paper losses mounting from ...</p>\n\n<a href=\"https://decrypt.co//364472/tom-lees-bitmine-posts-3-8-billion-loss-ethereum-price-plunge\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"QETH","symbol_name":"以太坊ETF-Invesco Galaxy","start_time":0,"source_url":"https://decrypt.co//364472/tom-lees-bitmine-posts-3-8-billion-loss-ethereum-price-plunge","article_id":"2627933231","we_media_id":null,"thumbnails":["https://img.decrypt.co/insecure/rs:fit:3840:0:0:0/plain/https://cdn.decrypt.co/wp-content/uploads/2025/08/ethereum-decrypt-style-06-gID_7.jpg@webp"],"rights":{"source":"decrypt_highlight","url":"https://decrypt.co//364472/tom-lees-bitmine-posts-3-8-billion-loss-ethereum-price-plunge","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2627933231","pubTimestamp":1776244661,"columns":[],"sourceInfo":{"source_id":"decrypt_highlight","name":"Decrypt"},"weMediaInfo":null,"summary":"Leading Ethereum treasury firm BitMine Immersion Technologies posted a major loss thanks to unrealized losses on its ETH.","collect":0,"end_time":0,"defaultTopTitle":"decrypt.co","property":[],"viewcount":null,"language":"en","relate_stocks":{"QETH":"以太坊ETF-Invesco Galaxy","FETH":"以太币ETF-Fidelity","ETHE":"最大以太坊ETF-Grayscale","ETHI":"Defiance Leveraged Long Income Ethereum ETF","ETQ":"T-Rex 2X Inverse Ether Daily Target ETF","BTF":"比特币&以太币期货ETF-CoinShares","ETU":"T-Rex 2X Long Ether Daily Target ETF","ETCO":"Grayscale Ethereum Covered Call ETF","ETHT":"ProShares Ultra Ether ETF","ETHU":"2倍以太币期货ETF-Volatility Shares","ETHV":"以太坊ETF-VanEck","EZET":"以太坊ETF-Franklin","ETHW":"以太坊ETF-Bitwise","YETH":"Roundhill Ether Covered Call Strategy ETF","ETH":"低成本以太坊ETF-Grayscale","SETH":"1倍做空以太币期货ETF-Proshares","ETHA":"以太坊ETF-iShares","EETH":"以太币期货ETF-ProShares","ETHD":"ProShares UltraShort Ether ETF"},"translate_title":"由于以太币价格暴跌，Tom Lee的BitMine季度亏损38亿美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"QETH":0.6,"ETH":0.6,"ETU":0.6,"SETH":0.6,"FETH":0.6,"ETHD":0.6,"EZET":0.6,"BTF":0.6,"EETH":0.6,"ETHU":0.6,"ETCO":0.6,"ETHE":0.6,"ETHT":0.6,"ETHV":0.6,"ETHA":0.6,"ETHI":0.6,"YETH":0.6,"ETHW":0.6,"ETQ":0.6},"content_text":"In brief\nBitMine posted a net loss of more than $3.8 billion during the three-month stretch ending in February.\nThe firm attributes most of the losses to the unrealized or paper losses mounting from its Ethereum holdings.\nShares of BMNR are up about 1% on Wednesday, but have slid nearly 60% in the last six months.\nLeading Ethereum treasury firm BitMine Immersion Technologies lost more than $3.8 billion in the quarterly period ending on February 28, according to a new 10-Q the firm filed with the SEC on Tuesday. The firm’s net loss figure of $3.81 billion was largely driven by mounting unrealized losses from its Ethereum holdings, which accounted for nearly 99% of the firm’s reported losses. Over a longer timeframe, the losses are even greater, extending beyond $9 billion in the six-month span ending in February.“Our operating model is now anchored by our ETH treasury strategy and capital-light ecosystem services,” the firm wrote, adding that “ETH market conditions, which affect the value of our holdings and the economics of any staking or staking-adjacent activities,” are now a key driver of its results. The firm also posted an unrealized loss of around $21 million for its investment in Eightco (ORBS), a Worldcoin treasury firm that also provides investors exposure to private artificial intelligence giant and ChatGPT maker, OpenAI. (Disclosure: BitMine Chairman Tom Lee is an investor in Dastan, Decrypt's parent company.)All in, the results have soured substantially from the same period last year, when the firm reported a loss of just $1.15 million. The biggest culprit? Ethereum.The second-largest crypto asset, and the primary treasury vehicle for BitMine, has fallen nearly 53% from its August all-time high of $4,946, recently changing hands at $2,346. ETH was trading around $1,965 at the close on February 28, down from about $2,800 at the start of December.BitMine, which relentlessly adds to its holdings—including a $157 million ETH purchase reported earlier this week—now holds 4,874,858 ETH worth more than $11.3 billion. But that’s far less than it has paid to accumulate it, having purchased its first 4.47 million ETH for nearly $17 billion, according to its 10-Q.In other words, 92% of the firm’s total ETH holdings were accumulated with an average price of around $3,794 per ETH, or around 63% higher than the asset currently trades. The staggering losses have shrunk in recent days, as ETH has jumped around 4% in the last week of trading. Shares in the firm (BMNR), which were uplisted last week to the NYSE from the smaller NYSE American exchange, are up around 1% on Wednesday, recently changing hands at $21.69. They’ve fallen nearly 60% in the last six months of trading and are down 20% year-to-date. Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.Your EmailGet it!Get it!","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2627933231","isCrawlerRequest":true}