Technical warning signs are rising for ETH: If BitMine holdings fall further, losses could exceed $10 billion.

CoinFeed reported on May 24th, citing Cointelegraph, that Tom Lee's BitMine is facing significant paper pressure due to the continued pullback in Ethereum's price. With Ethereum having retreated more than 57% from its 2025 high, BitMine's current unrealized losses on its ETH holdings have widened to approximately $7.35 billion. Data shows that since launching its ETH reserve strategy in July 2025, BitMine has consistently increased its holdings against the market trend, currently holding approximately 5.28 million ETH, representing about 4.37% of the total Ethereum supply, making it the world's largest listed ETH reserve institution. Its average holding cost is approximately $3,513, while the current price of ETH has fallen to around $2,100.