- Fundstrat founder Tom Lee, via his treasury company Bitmine Immersion Technologies, has incurred $8.8 billion in losses on ether (ETH) investments.
- The losses exceed the $8 billion in losses FTX customers suffered during the exchange’s collapse.
- Bitmine Immersion purchased millions of ETH at an average price of $3,850, far above the current trading value of around $1,843.
- The company’s aggressive buying continued during a 60% price decline, significantly deepening investor losses.
- Lee’s company has seen its stock value plummet 88% from its mid-2025 peak.
Tom Lee, founder of Fundstrat and chairman of Bitmine Immersion Technologies, is now responsible for over $8.8 billion in crypto losses. Those losses, tied to his company’s massive ether (ETH) purchases, are larger than the $8 billion lost by FTX customers, according to data.
Bitmine Immersion bought 4.4 million ETH at an average price of $3,850 per coin. Consequently, with ETH trading at approximately $1,843, the company’s holdings have collapsed in value.
Investor pain was compounded as the firm purchased an additional 2.7 million ETH during the bear market. Those purchases, made while ETH fell 60%, increased total losses from $4.8 billion to the current $8.8 billion.
Bitmine Immersion’s stock has also suffered dramatically from its peak in mid-2025. Its share price has fallen 88%, reflecting a broader decline for digital asset treasury companies.
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