Tom Lee: The $6 billion loss of BitMine was expected.

BitMine's Long-Term Strategy

Tom Lee, Chairman of the Board of BitMine Immersion, argued that the company's unrealized losses in Ethereum, exceeding 6 billion dollars, are expected outcomes of its long-term Ethereum treasury strategy. Lee emphasized that these losses do not reflect the company's execution failures.

Lee stated that BitMine is structured to follow Ethereum throughout a comprehensive market cycle, ultimately surpassing it. He compared this situation to an index-style product and noted that the paper losses occurring during pauses in the cryptocurrency market are part of this approach.

Ethereum Accumulation and Future Potential

Despite the challenges in the cryptocurrency market, the company continues to accumulate Ethereum. It currently holds approximately 4.24 million Ethereum and earns staking revenue. However, Lee warned investors that a broader phase of crypto deleveraging could pressure the markets until early 2026.