BitMine Immersion Technologies' stock fell nearly 27% after a presentation by Tom Lee of FundStrat, intended to instill confidence in the company's Ethereum treasury plans. The presentation included ambitious goals, such as holding 5% of Ether's supply and an implied valuation of Ether at $60,000, based on unnamed research findings. Despite this, BitMine's shares dropped over 11% during the trading day and an additional 15% after hours following a significant rise earlier in July, when they reached a yearly high. The company, which currently holds 600,000 Ether worth over $2.2 billion, aims to be a fully U.S.-based validator network. Analysts stress the need for clear execution in capital protection and liquidity strategies to sustain value. Cointelegraph reports that while some analysts view BitMine's plans favorably, the market reaction to their latest announcements has been negative, indicating shareholder skepticism.

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