Investor Ross Gerber criticized BitMine’s strategy over a major unrealized loss related to Ethereum. It seems the company is facing quite the downturn, and it’s raising eyebrows in the investment community.
Tom Lee, the CEO of Gerber Kawasaki Wealth and Investment Management, has weighed in on the situation.
According to DropsTab’s data, BitMine’s Ethereum holdings are estimated at around $8.98 billion. With a hefty investment of $15.65 billion, the company is wrestling with a staggering unrealized loss of $6.65 billion at this point.
This could be one of the worst deals ever… we’ll just have to wait and see.
Gerber has previously warned against putting money into lesser-known cryptocurrencies, suggesting that investors should gravitate toward more established currencies like Bitcoin and Ethereum, which he refers to as the “kings” and “queens” of the crypto realm.
In a twist, Lee has urged investors not to flee from Ethereum amid FOMO, indicating that the recent rise in the metal’s price was distracting people from important conversations about AI and cryptocurrencies.
While Benzinga did not immediately respond to inquiries regarding Gerber’s remarks, there’s a lot of discourse around these market dynamics. Last year, BitMine attempted to shift gears by bringing in financial veterans to create an Ethereum treasury company. Yet, ETH’s downturn has certainly impacted their financial health, as the cryptocurrency has dropped over 10% since Bitmine made its strategic pivot in June 2025.
This situation serves as a reminder that the investment landscape is always changing and that maintaining a diverse portfolio is crucial for managing risks and capitalizing on growth opportunities.
