Top Three Reasons Why Tom Lee’s BMNR Stock May Be on the Cusp of a Deeper Dive Top Three Reasons Why Tom

Tom Lee’s BitMine Immersion Technologies (NYSE:BMNR) stock has dropped by 52% this year, erasing billions of dollars in value.

It has also fallen by over 90% from its highest point in July last year, and this trend may continue in the near term as it faces some major risks.

BitMine Stock May Drop as Ethereum Risks Rise The biggest risk facing BitMine stock is that Ethereum (CRYPTO: ETH), its main asset has been in a strong downward trend, and its fundamentals and technicals point to more downside.

Ethereum’s demand in the exchange-traded funds (ETF) industry has waned this year.

These funds have shed over $1 billion in assets this year and now hold just $9.3 billion in assets, which are equivalent to 4.5% of its market cap.