Tom Lee responds to Bitmine's $6.6 billion unrealized loss: unrealized losses are not a system flaw but part of the product design.

DeepFlowTech · 2026-02-04T02:23:15+00:00

On February 4th, Bitmine Chairman Tom Lee responded to the $6.6 billion unrealized loss in the Ethereum treasury, pointing out that the market misunderstood its operational logic, emphasizing that losses are a normal part of product design, and questioning whether the downward cycle of ETFs should be criticized. He also noted that Bitmine is debt-free and believes that Ethereum's long-term prospects remain positive.

DeepFlowTech

2026-02-04 02:23:15

Abstract generation in progress

Deep Tide TechFlow News, on February 4th, market-disclosed data shows that the ETH holdings of Ethereum treasury company Bitmine have a floating loss of up to $6.6 billion. The company’s chairman, Tom Lee, responded on the X platform, stating that some market opinions misunderstand the operational logic of the Ethereum treasury. Bitmine’s core goal is to track ETH prices and strive for excess returns throughout the full market cycle. When the crypto market is in a downtrend, a synchronized decline in ETH prices is normal. The “unrealized losses” in ETH holdings that appear during this phase are not system flaws but part of the product design, and he questions whether similar criticism should be directed at index ETFs experiencing losses during downturns. Tom Lee also emphasized that Bitmine has no liabilities. Given the strengthening fundamentals of Ethereum, the recent market correction is “highly attractive,” and in the long term, Ethereum will remain an important infrastructure for future financial systems.

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