Bitmine Immersion Technologies (BMNR), one of the largest public holders of Ethereum, is sitting on $3.81bn of unrealized loss, according to its
latest filing with the Securities and Exchange Commission (SEC).
Bitmine's Ether Dreams Hit a Wall as Firm Faces Nearly $4bn Unrealized Loss
15 April 2026 - 08:21 CEST
The digital asset treasury (DAT) firm, chaired by Fundstrat co-founder Tom Lee, is one of the largest corporate holders of ether. The firm reported the massive
unrealized loss in its unaudited results filing for the quarter.
Bitmine is within arm’s reach of its aim of owning 5% of Ethereum’s token supply. It holds 4.87mn ether, or nearly 4% of the total supply in circulation.
The DAT’s vision of profiting from its ether holdings hit a snag after the sharp
pullback in the crypto market. Ether has lost more than half its value over the last seven months, falling from its yearly high of $4,780 to lows below $1,800.
The firm’s stock performance also fell in tandem with the underlying asset. Bitmine hit its yearly high of $161 in June of last year and has been tanking since. The stock closed marginally lower at $21.48 on 14 Apr.
