Tom Lee's Ethereum Bet Is Down $9 Billion | CoinDesk Daily

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4.7 • 698 Ratings

🗓️ 4 June 2026

⏱️ 1 minutes

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Summary

Bitmine sitting on $9B of unrealized losses from its ETH bag. Bitmine, the largest corporate holder of ether, is sitting on nearly $9 billion in unrealized losses as ETH falls below $1,800. Chairman Tom Lee still predicts a $250,000 price target, but shares of BMNR are down drastically since early May. CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily." - This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

Transcript

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0:00.0	Tom Lee's ETH bet hits a $9 billion loss and will SpaceX's IPO drain capital out of crypto?
0:06.7	This is Coin Desk Daily.
0:13.4	BitMind Emersion Technologies is sitting on an estimated $8.9 billion in unrealized losses on its ether treasury.
0:22.5	The company holds more than 5.4 million, which is worth roughly $10 billion, down sharply as ETH trades below $1,800.
0:29.4	Shares of BMNR are down significantly since early May and now trading below their February
0:34.9	lows. SpaceX is targeting a $75 billion IPO at $135
0:39.6	per share, a deal that would value the company at $1.75 trillion. SpaceX's listing, combined
0:46.7	with fundraising from OpenAI and Anthropic, could pull more than $240 billion in new capital
0:53.0	by year end, potentially siphoning liquidity
0:55.6	from digital assets. And Goldman Sachs has launched a blockchain native real estate fund
0:59.9	alongside Apex Group and R-Tax. The fund to tokenizes real estate shares using GSDAP,
1:05.3	Goldman's proprietary blockchain platform. Real estate has been one of the tougher asset classes
1:09.7	to tokenize at scale,
1:11.2	is Goldman's entry a signal that institutional infrastructure may be catching up.
1:16.0	Get more updates on coin desk.com.

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