BitMine Adds 40,000 ETH and Holds 4.32M Coins Despite $7.8B Unrealized Losses

Ethereum-focused treasury firm BitMine, chaired by Tom Lee, bought about $83 million worth of ETH in two 20,000-coin deals as the asset traded near multi‑month lows. The company now holds roughly 4.32 million ETH at an average cost of $3,850, leaving it more than $7.8 billion down on paper with prices around $2,040. While some large holders have sold heavily in recent weeks, BitMine is maintaining a long‑term stance and has no debt obligations forcing sales.