Executive Summary
BitMine Immersion Technologies, the crypto treasury company linked to Tom Lee, is experiencing over $6 billion in unrealized losses on its ETH positions. ETH price has dropped to $2,435, with RSI at 26 signaling oversold conditions. BTC has also fallen below $80,000, while the dollar index is rising. Total ETH holdings: 4.24 million, annual staking income: $164 million.
Expanded Analysis of the Company’s ETH Positions
BitMine Immersion Technologies, the publicly traded crypto treasury company linked to investor Tom Lee, is experiencing over $6 billion in unrealized losses on its Ether (ETH) positions following recent market liquidations. According to Dropstab data, the company added 40,302 more ETH last week, bringing its total holdings to 4.24 million ETH. At current market prices ($2,435.66), ETH assets are worth approximately $9.6 billion, a significant decline from the $13.9 billion peak in October. The company’s staked ETH holdings generate $164 million in annual staking income, supporting a long-term HODL strategy.
Source: DropstabSource: Tom LeeLatest News Analysis
In parallel with the ETH decline, Bitcoin has fallen below MicroStrategy’s cost basis ($76,037) for the first time since October 2023. BTC has dropped below $80,000 since April 2025. The dollar index rose 0.4%, while BTC fell 4%, gold 2.5%, and NASDAQ 0.8%. Walsh’s potential FED chair appointment is increasing uncertainty. Kobeissi Letter highlights fragile liquidity and leveraged positions. Tom Lee sees early 2026 as challenging; Wintermute expects ETF flows, treasury mandates, and retail recovery.
Technical Deep Dive
ETH current price: $2,435.66 (-9.73% 24h). RSI 26.41 (oversold, bounce potential). Trend: Downtrend, Supertrend: Bearish. EMA20: $2,897.
| Supports | Level | Score | Distance |
|---|---|---|---|
| S1 | 2.250$ | 74/100 ⭐ Strong | -7.68% |
| S2 | 1.705$ | 46/100 Medium | -30.04% |
| Resistances | Level | Score | Distance |
|---|---|---|---|
| R1 | 2.450$ | 70/100 ⭐ Strong | +0.51% |
| R2 | 3.016$ | 62/100 ⭐ Strong | +23.74% |
Expert opinion: Short-term recovery possible with RSI oversold, but persistence below EMA20 sustains bearish pressure.
Impact on Related Coins (BTC)
BTC in correlated decline with ETH: Drop below $80,000 breached MicroStrategy’s base. 4% loss triggered by dollar rally. BTC-ETH pair accelerates liquidation chain for treasury companies.
Market Context and Impacts
Global risk-off: DXY rise fueling stock and crypto sell-offs. ETH liquidations concentrated around $2,300. Treasury companies like BitMine resisting with unleveraged holdings but facing balance sheet pressure from value loss.
Future Outlook and Key Levels to Watch
- Short-Term: Recovery if $2,450 resistance breaks; test $2,250 below.
- Medium-Term: RSI divergence signaling reversal.
- Long-Term: Tough early 2026 per Tom Lee, Wintermute awaiting ETF flows.
Conclusion and Key Points
- BitMine $6B loss, but staking income as buffer.
- ETH oversold, BTC correlation critical.
- Dollar and FED uncertainty dominant.
- Watch: $2,250 support, $2,450 resistance.
Source: https://en.coinotag.com/bitmine-eth-losses-exceed-6b-technical-analysis
