Tom Lee’s BitMine Immersion Technologies (NASDAQ:BMNR) stock will be in the spotlight in the coming week as it publishes its financial results, which will provide more color on its unrealized loss and staking revenue.
BitMine Earnings to Show a Rise in Unrealized Losses
BitMine, which has become the biggest Ethereum (CRYPTO: ETH) holder in the world, will likely report a huge unrealized loss since the coin has slumped since it started its accumulation.
After reaching a peak of $4,950 in August last year, Ethereum has fallen by over 63% to about $1,782, reducing the value of the company’s holdings. In its latest earnings report, the company reported an unrealized loss of $9.3 billion, which has likely widened after Ethereum declined by more than 15% in the second quarter.
BitMine has continued its dollar-cost averaging this month, bringing its total holdings to 5.7 million. Its total holdings are now worth $10.16 billion. At Ethereum’s highest point last year, this value would be worth over $26 billion.
