BitMine Immersion Technologies (BMNR) Plummets 11% to 7-Month Low Amid $8B Ethereum Unrealized Losses

BitMine Immersion Technologies (BMNR) tumbled 11% on February 5, 2026, to a seven-month intraday low of $18.05, as its unrealized Ethereum (ETH) losses expanded to about $8 billion. The firm holds roughly 4.285 million ETH, or 3.5% of the circulating supply, with a target of 5%, and recently added 41,788 ETH. ETH fell 10% in the last 24 hours to $1,932, a 32% drop in seven days, and is down 61% from its $4,946 all-time high. At the current price, BitMine’s ETH holdings are worth about $8.4 billion, implying unrealized losses of roughly $8 billion. “We are in a downturn, so naturally ETH is down,” said Tom Lee, chairman and co-founder of Fundstart, on X. “Unrealized losses are not a bug, they are a feature of crypto investing.” Data from DropsTab suggests the firm is down nearly 49% on its overall investment, with the $18.05 closing price reflecting the extended bearish leg in ETH. Analysts at Myriad model a 72% chance Ethereum will reach $1,500 before rebounding to $3,000.