Tom Lee's Bitmine Surges 3,000% Since ETH Treasury Strategy, but Sharplink's Plunge Warrants Caution

Key Points

1. Bitmine Immersion (BMNR) shares more than doubled to over $140, rallying over 3,000% in less than a week after announcing a $250 million private placement to acquire ETH.

2. Sharplink Gaming (SBET) previously surged 4,000% following a $450 million fundraising announcement but later plunged over 90% from its peak.

3. Bitmine's valuation exceeds $800 million, reflecting aggressive assumptions about its future ETH strategy, prompting caution for retail investors chasing momentum.

4. The article highlights the volatile nature of crypto-related public equities, with both Bitmine and Sharplink experiencing extreme price swings tied to fundraising and strategic shifts.