Renowned investor Ross Gerber expressed his strong disapproval of BitMine Immersion Technologies Inc.’s strategy on Sunday, highlighting significant unrealized losses related to the company’s Ethereum investments. Gerber, the CEO of Gerber Kawasaki Wealth and Investment Management, labeled the investment approach taken by Tom Lee’s company as potentially the “worst trade ever.”
According to data from DropsTab, BitMine’s Ethereum holdings were valued at approximately $8.98 billion, a staggering figure compared to the $15.65 billion the company initially invested. This has resulted in unrealized losses nearing $6.65 billion as of the latest evaluation.
Gerber, who has previously cautioned against investments in lesser-known cryptocurrencies, prefers established names like Bitcoin and Ethereum, which he has dubbed the “king” and “queen” of the cryptocurrency ecosystem. His criticism also extends to cryptocurrency treasury models, notably those championed by Michael Saylor’s Strategy Inc., which he described as unviable.
Despite requests for comment, BitMine did not respond to inquiries regarding Gerber’s remarks. The company transitioned to focus on an Ethereum treasury strategy last year, bringing in Wall Street veteran Tom Lee as chairman. BitMine is now the largest corporate holder of Ethereum, boasting approximately 4.243 million ETH. However, the recent downturn in Ethereum’s value has adversely affected BitMine’s financial performance, as the second-largest cryptocurrency has dropped over 10% since the company launched its ETH treasury pivot in June 2025.
In the midst of this turmoil, Lee urged investors to remain committed to Ethereum, cautioning against abandoning the cryptocurrency out of fear of missing out (FOMO). He emphasized that substantial gains in precious metals have drawn attention away from vital themes related to AI and cryptocurrency.
As the landscape surrounding digital assets becomes increasingly volatile, investors are looking for ways to manage risk and optimize returns through diversified portfolios. Various platforms aim to help individuals achieve financial stability and growth while navigating the complexities of the cryptocurrency and tech landscapes.
