BitMine's 4.28M ETH shows $7B paper loss as price nears $2,000 on Feb 5

On February 5, 2026, Ether fell to around $2,048, leaving BitMine Immersion Technologies with more than $7 billion in unrealized losses on roughly 4.28 million ETH. The company kept buying, including a recent lot of about 41,788 ETH, while Tom Lee defended the treasury approach in X posts on February 3.