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Tom Lee: BitMine Stock Correlates 80% with ETH, ETH to Outperform BTC This Cycle

Tom Lee, co-founder of Fundstrat, stated that BitMine stocks have an 80% correlation with Ethereum, and he expects ETH to outperform BTC in this cycle. He also noted that the approval of a spot Ethereum ETF could be a significant catalyst for ETH’s price.

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AI take

Lee's correlation claim recasts BitMine as a de facto ETH proxy, which matters for holders who thought they owned a mining or infrastructure play rather than leveraged ether beta. The ETF reference frames the next catalyst as regulatory rather than on-chain, so the gap between ETH and BTC may hinge on approval timelines and flows rather than fundamentals. Whether that correlation holds through an ETF decision, and whether BitMine's equity behaves like ETH or like its own business, is the open question.

Generated by AI for reference only.

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