Is BitMine, the leading Ethereum Treasuries company, becoming one of the worst investments in history? Its unrealized losses, currently estimated at $7 billion, raise serious questions. Here’s an update…
BitMine: $7 Billion in Losses for the Leader in Ethereum Treasuries
The significant and widespread decline in the crypto market is clearly not good news for Digital Asset Treasuries (DATs)—these publicly traded companies, often on the brink of collapse, that seek increased visibility by accumulating cryptocurrencies, initially focusing on Bitcoin.
In this race, the small BTC miner BitMine took a rather unexpected turn last June: becoming the world’s largest holder of ETH. And why not one of the most profitable companies in the United States, thanks to its built-in staking feature?
In just a few months, this accumulation goal became a reality, with a portfolio now comprising more than 4.2 million Ethers—equivalent to 3.5% of the total ETH in circulation.
However, the situation appears more complicated when it comes to its hopes for profitability, as a market downturn has led to unrealized losses estimated at nearly $7 billion in total.
BitMine reports significant losses on its ETH holdings
This problem is all the more troubling given that BitMine’s CEO has consistently touted ETH’s upside potential throughout the final months of 2025, even going so far as to estimate that it could easily reach the $9,000 mark in January… which is four times its current price.
This raises questions about the resilience of this business model during a market crash.
Is Tom Lee orchestrating the biggest loss in investment history?
BitMine’s problem lies far more in Tom Lee’s stance—so optimistic as to be ridiculous—than in market realities. Indeed, the company’s losses remain theoretical for now, despite a (very real) drop in its stock price of more than 80% since its peak on July 3.
This is enough to stir up emotions, to the point of prompting the owner of the account @Anselm to tell his 790,000 followers that “Tom Lee is about to break the record for the biggest investment loss in human history,” comparing it to other historic financial fiascos mentioned as examples on the Wikipedia page titled: “List of trading losses.”
BitMine: one of the biggest losses in history?
Tom Lee promises to make BitMine highly profitable thanks to the returns generated by its staking operations. Can we still trust his extravagant ambitions?
