{"id":35092,"date":"2025-07-03T17:16:59","date_gmt":"2025-07-03T17:16:59","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=35092"},"modified":"2025-07-03T17:16:59","modified_gmt":"2025-07-03T17:16:59","slug":"tom-lees-bitmine-surges-3000-since-eth-treasury-strategy-but-sharplinks-plunge-warrants-caution","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=35092","title":{"rendered":"Tom Lee’s Bitmine Surges 3,000% Since ETH Treasury Strategy, but Sharplink’s Plunge Warrants Caution"},"content":{"rendered":"
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Bitmine Immersion<\/a> (BMNR), the ether treasury strategy firm helmed by Fundstrat’s Thomas Lee, is the latest red-hot crypto proxy play in town.<\/p>\n

The company’s shares more than doubled on Thursday topping $140, now rallying over 3,000% in less than a week since the firm announced<\/a> the raising of $250 million by selling shares to acquire ETH.<\/p>\n

The private placement offering, priced at $4.50 per share and due to close today, attracted institutional investors including Founders Fund, Pantera, FalconX, Kraken, Galaxy Digital, DCG.<\/p>\n

At its core, Bitmine is positioning itself as a publicly traded proxy for ether exposure, similar to how Michael Saylor’s Strategy (MSTR) became a leveraged bitcoin bet. The approach has gained traction recently as investors look for new ways to access crypto through public equities.<\/p>\n

The firm originally focused on crypto mining using immersion cooling and held $16 million in bitcoin prior to the fundraising.<\/p>\n

Sharplink d\u00e9j\u00e0 vu<\/h3>\n

But a similar crypto treasury stock’s rapid rise and fall may offer a cautionary tale.<\/p>\n

The parabolic rise in BMNR mirrors the trading behavior of Sharplink Gaming (SBET), another public company that repositioned<\/a> itself as an ETH treasury firm last month under the leadership of Consensys co-founder Joseph Lubin.<\/p>\n

Sharplink soared as much as 4,000% in days following its $450 million fundraising announcement. Shares since plunged over 90% from peak as the firm closed its ETH acquisition and early investors in the private placement sold stock locking in their profits.<\/p>\n

Bitmine\u2019s valuation, with a market capitalization over $800 million at current prices, already prices in aggressive assumptions about the firm’s future ETH gains.<\/p>\n

Retail investors chasing the momentum should tread carefully.<\/p>\n

Read more: Ethereum Treasury Firm SharpLink Gaming Plunges 70% \u2013 But There May Be a Twist<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitmine Immersion (BMNR), the ether treasury strategy firm helmed by Fundstrat’s Thomas Lee, is the latest red-hot crypto proxy play in town. The company’s shares more than doubled on Thursday topping $140, now rallying over 3,000% in less than a week since the firm announced the raising of $250 million by selling shares to acquire […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-35092","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35092","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35092"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35092\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}