Home BlockchainBitMine Bleeds $6 Billion: Has Tom Lees Ethereum Supercycle Bet Turned Fatal?

BitMine Bleeds $6 Billion: Has Tom Lees Ethereum Supercycle Bet Turned Fatal?

by Vivek Kumar
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Ethereum (ETH) Price Performance

As the Ethereum (ETH) price reels from a sharp sell-off, few names have drawn more attention than BitMine Immersion Technologies (BMNR), the public company chaired by Fundstrat’s Tom Lee.

Once a modest crypto-mining hardware firm, BitMine reinvented itself as the largest corporate holder of Ethereum, amassing roughly 4.24 million ETH, or about 3.5% of the total supply.

BitMine’s $6 Billion Wound Puts Tom Lee’s ETH Treasury on the Brink

With the ETH price now trading near multi-month lows and social…

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