Cointelegraph reports that BitMine's ETH reserve unrealized losses have expanded to approximately $7.35 billion. ETH is at the lower edge of an ascending wedge bearish pattern; if it breaks support and drops to around $1,600, it could decline about 25% from current levels. If so, based on a cost basis of approximately $3,513, unrealized losses would increase to about $10.1 billion. Despite the growing unrealized losses, Tom Lee still insists on long-term accumulation of ETH, expecting to hold 5% of the total supply by December this year.

DeepFlowTech

2026-05-24 14:25:02

Abstract generation in progress

Deep Tide TechFlow News, May 24, According to Cointelegraph, as Ethereum continues to weaken, the unrealized loss on Tom Lee's BitMine ETH reserves has expanded to approximately $7.35 billion. Analysis indicates that ETH is currently near the lower boundary of a typical "ascending wedge" bearish pattern. If the support level is effectively broken, the price could further decline to the $1,600 region, representing about a 25% drop from current levels. If this scenario occurs, based on BitMine's average holding cost of approximately $3,513, its ETH holdings' unrealized losses could further increase to about $10.1 billion. However, despite the ongoing increase in unrealized losses, Tom Lee remains committed to a long-term accumulation strategy and has stated that he will not abandon the ETH reserve plan, expecting to hold 5% of the total Ethereum supply by December this year.

ETH1.87%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

Reward
like
Comment
Repost
Share

Comment

Add a comment

No comments

Trending Topics
View More
#
TradfiTradingChallenge
348.47K Popularity
#
PlatinumCardCreatorExclusive
128.37K Popularity
#
DailyPolymarketHotspot
1.05M Popularity
#
GateSquarePizzaDay
668K Popularity
#
SpaceXOfficiallyFilesforIPO
574.47K Popularity

Pinned

Sitemap

Analysis: If ETH drops to $1,600, Tom Lee's BitMine holdings could incur unrealized losses exceeding $10 billion

Trending Topics

TradfiTradingChallenge

PlatinumCardCreatorExclusive

DailyPolymarketHotspot

GateSquarePizzaDay

SpaceXOfficiallyFilesforIPO

Pinned