BitMine chairman Tom Lee, co-founder and chief investment officer of Fundstrat Global Advisors, has defended the strategy, arguing that the company is structurally designed to track the price of Ether. As a result, its portfolio and equity performances are expected to deteriorate during broader market downturns and recover alongside ETH price rebounds. That volatility has been reflected in BitMine’s stock. Shares are down more than 31% over the past month and about 60% over the past six months.
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https://news.bitcoin.com/bitmines-ethereum-treasury-swells-to-4-3m-eth-unrealized-losses-mount/
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https://www.coindesk.com/tech/2026/01/16/tom-lee-s-bitmine-immersion-pushes-the-ethereum-staking-network-into-usd8-billion-backlog
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