Tom Lee’s BitMine Ethereum Gambit Close To Being ‘Worst Trade Ever,’ Says Ross Gerber As Company Faces Billions In Paper Losses
Posted On February 2, 2026
Renowned investor Ross Gerber slammed BitMine Immersion Technologies Inc.‘s (NYSE:BMNR) strategy on Sunday amid massive unrealized losses on its Ethereum (CRYPTO: ETH) position.
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The CEO of Gerber Kawasaki Wealth and Investment Management said the ETH bet by Tom Lee’s company could well turn out to be the “worst trade ever.”
BitMine’s ETH holdings were valued at approximately $8.98 billion, according to data from DropsTab. Having poured $15.65 billion into these investments, the company is staring down unrealized losses of a massive $6.65 billion as of this writing.
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Gerber …
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