July 29, 2025
5 min read
Stephen Katte
BitMine shares fell over 27% despite Tom Lee’s bullish Ethereum outlook and plans to hold 5% of ETH supply.
BitMine Immersion Technologies experienced a significant stock price drop of nearly 27%, even as Fundstrat's Tom Lee launched a new monthly presentation series intended to boost investor confidence. During the initial presentation, Lee detailed BitMine's ambitious cryptocurrency strategy, including a long-term plan to acquire 5% of the total Ether supply. Projections shared by Lee, citing unnamed research firms, suggested that Ether's implied value could reach $60,000. However, these efforts failed to sway shareholders, with BitMine's (BMNR) stock declining over 11% during regular trading hours, closing at $35.11, and then dropping an additional 15% in after-hours trading. This contrasts sharply with the stock's previous surge, which saw it rise over 3,000% to a yearly high of $135 on July 3, following the announcement of its Ether acquisition plans.
During the presentation, Tom Lee confirmed that BitMine currently holds 600,000 Ether, valued at over $2.2 billion. He reiterated the company's vision to establish itself as a "made in America validator network," with all operations exclusively located within the United States. Lee also emphasized BitMine's commitment to active participation in the Ethereum ecosystem, underscoring the plan to hold and stake 5% of the total Ether supply. Industry experts offered varied perspectives on such treasury strategies. Vincent Liu, Chief Investment Officer at Kronos Research, highlighted the necessity of a robust strategy for capital protection and liquidity management in treasury rollouts, cautioning that sustained value is unlikely without clear execution and a long-term vision. Conversely, David Grider, a partner at Finality Capital, expressed optimism regarding the growing trend of Ether treasury companies, likening their potential impact on ETH price and inflows to that of MicroStrategy on Bitcoin. Grider also disclosed Finality Capital's holdings in BitMine. Other notable corporate Ether holders mentioned include SharpLink Gaming with 438,000 Ether, Bit Digital with over 100,000 ETH, and Blockchain Technology Consensus Solutions, which recently increased its holdings to 29,122 ETH after a $62.4 million capital raise. Ray Youssef, CEO of finance app NoOnes, observed an increasing trend of corporations viewing Ethereum as a critical infrastructure component, driving the surge in corporate treasury adoption.
How much Ether does BitMine hold?
What is the projected value of Ether mentioned in the article?
How did the market react to Tom Lee's presentation?
What are the views of industry experts on corporate Ether treasury strategies?
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Source: Cointelegraph
Frequently Asked Questions (FAQ)
- What is BitMine Immersion Technologies' cryptocurrency strategy?
BitMine's strategy involves acquiring and holding a significant portion of the total Ether supply, aiming to become a "made in America validator network" and an active participant in the Ethereum ecosystem.BitMine currently holds 600,000 Ether, valued at over $2.2 billion.Projections cited suggest Ether's implied value could reach $60,000.Despite the presentation aimed at boosting confidence, BitMine's stock price dropped significantly.Experts like Vincent Liu emphasize the need for strong execution and long-term vision, while David Grider sees optimism in this trend, comparing it to MicroStrategy's impact on Bitcoin.