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According to Odaily, as Ethereum continues to weaken, Tom Lee's BitMine's ETH reserve unrealized losses have expanded to approximately $7.35 billion. Data shows that ETH has dropped more than 57% from the October 2025 high of around $4,955, and its market dominance (ETH Dominance) has also fallen from about 15% to around 10%. BitMine launched its ETH reserve strategy in July 2025 and continued to increase its holdings after completing a $250 million private placement. The latest data indicates it currently holds about 5.28 million ETH, accounting for around 4.37% of Ethereum’s total supply, making it the world’s largest publicly listed ETH reserve company. Despite the ongoing increase in unrealized losses, Tom Lee remains committed to a long-term accumulation strategy. BitMine once said it would moderately slow its buying pace but would not abandon the ETH reserve plan, and expects to hold 5% of total Ethereum supply by December this year. However, technical risks continue to intensify. Analysis points out that ETH is currently near the lower boundary of a typical “rising wedge” bearish pattern. If the support is decisively broken, the price could further drop to the $1,600 region, leaving about 25% downside from current levels. Should this scenario occur, and based on BitMine’s average holding cost of about $3,513, its ETH holdings’ unrealized losses could further expand to around $10.1 billion. Meanwhile, market sentiment continues to deteriorate. On-chain data platform Santiment shows that the ETH social media long-short comment ratio has rapidly fallen from over 2:1 at the end of April to nearly 1:1. Analysts say that more and more traders have started to view ETH as “Dead Money” (an asset lacking upward momentum). (Cointelegraph)

BlockBeats News, May 24th, Ethereum treasury company BitMine (BMNR) currently holds 5.28 million ETH, accounting for approximately 4.37% of the total ETH supply. With ETH retracing over 57% from its high in October 2025, BitMine's unrealized loss has now expanded to around $7.35 billion. BitMine launched its Ethereum treasury strategy in July 2025 and has been consistently accumulating ETH during the downturn. The company's average holding cost is around $3,513. BitMine's Chairman, Tom Lee, has previously stated that ETH has historically seen a "V-shaped rebound" after a significant retracement, suggesting that the current decline could be a long-term buying opportunity. However, analysts point out that ETH's current technical pattern is forming a bearish "rising wedge," and if it breaks below a key support level, the price could further drop to around $1,600, a decline of about 25%. If this scenario occurs, BitMine's unrealized loss may widen to over $10 billion. Furthermore, ETH is currently facing pressure from ETF outflows, deteriorating market sentiment, and personnel changes at the Ethereum Foundation. Santiment data shows that the ratio of bullish to bearish comments on ETH social media has decreased from 2:1 at the end of April to nearly 1:1.

```htmlJinse Finance reported that market data shows ETH has fallen below $2,100, currently quoted at $2,096.81, with a 24-hour increase of 2.47%. The market is experiencing significant volatility, so please exercise proper risk control.```