BitMine's Unrealized Ethereum Losses Hit $6.6 Billion as Holdings Grow to 4.285 Million ETH

On 2 February 2026, BitMine Immersion Technologies reported that unrealized losses on its Ethereum position have reached about $6.6 billion, while its ETH holdings increased to 4.285 million tokens. The firm's crypto and cash reserves are roughly $10.7 billion against invested capital of around $15.65 billion, leaving the current portfolio value near $9.04 billion and highlighting the risks of a concentrated Ethereum strategy.