Bitmine Immersion's Ethereum Holdings Suffer Record Losses

Tom Lee, founder of Fundstrat and Chairman of Bitmine Immersion Technologies, has overseen significant losses on his company's Ethereum holdings. The company's decision to buy more Ethereum during a bearish period has increased its losses from $4.8 billion to $8.8 billion over the past six months.

The decline in Ethereum prices has had a devastating impact on digital asset treasury companies like Bitmine Immersion. These companies have been hit hard by the collapse of cryptocurrency prices, with some losing up to 99% of their value since their peak in May 2025.