BitMine Immersion Technologies Chairman Tom Lee stated on Thursday that Ethereum could be the solution to the “uncanny valley of wealth” in his message to shareholders. He borrowed the concept from roboticist Masahiro Mori’s famous theory, suggesting people become uncomfortable when robots appear almost human.
In Lee’s version, Artificial Intelligence generates an increasing share of global wealth, leaving humans uneasy about AI’s growing economic influence. He stated that blockchain technology, like Ethereum, offers a solution by serving as a neutral layer of trust between humans and AI.
Lee compared Ethereum’s current stage to Amazon before AWS transformed the company’s growth trajectory and Nvidia before AI accelerated demand for its chips. He stated Ethereum is transitioning from its first phase of growth, driven by ICOs, NFTs, ETFs, and stablecoins, into a second phase powered by institutional adoption.
He pointed to tokenization initiatives from BlackRock, JPMorgan, Ondo Finance, Coinbase, Kraken, and Robinhood as evidence that Wall Street is building financial infrastructure on Ethereum. “Wall Street is building on Ethereum,” Lee said, adding that networks such as Robinhood Chain ultimately strengthen Ethereum’s role as the settlement layer for tokenized finance.
Lee said Ethereum is positioned to benefit from two trends: Wall Street’s migration toward blockchain-based financial rails and the rise of agentic AI. Together, those trends could dramatically expand Ethereum’s addressable market beyond cryptocurrencies.
Bitmine is the largest Ethereum treasury in the world, with around 5.77 million ETH on its balance sheet. BMNR’s stock was down over 4% at market open, while Ethereum’s price dropped over 2% in the last 24 hours.
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