Tom Lee's Bitmine now $8 billion underwater as ether tumbles below $2,000

Tom Lee's Bitmine, a prominent cryptocurrency investment firm, is now facing significant financial challenges, with its valuation plunging to an alarming $8 billion underwater, following a sharp decline in the price of ether, which has fallen below the critical threshold of $2,000. This drastic dip in ether's value has raised concerns about the overall stability of the cryptocurrency market, impacting investors and firms alike, and casting uncertainty over Tom Lee's strategic decisions in the rapidly evolving digital asset landscape. source: https://www.coindesk.com/business/2026/02/05/tom-lee-s-bitmine-now-usd8-billion-underwater-as-ether-tumbles-below-usd2-000