Tom Lee said the recent cryptocurrency slowdown represents only a “mini crypto winter” that may already be ending, suggesting renewed momentum for the digital asset market. Speaking at the Paris Blockchain Week 2026, Lee projected that Ether (ETH) could climb above $60,000, with a potential fair-value estimate near $62,000 over the next several years.
Lee attributed the expected recovery to growing adoption of tokenization and agentic artificial intelligence applications built on the Ethereum ecosystem. He also argued that equity markets may have already bottomed following geopolitical shocks, including tensions linked to the US–Israel–Iran conflict, historically a signal that risk assets could stabilize.
Bitmine Reports Multi-Billion-Dollar Ether Loss Despite Bullish Outlook
The comments came shortly after Bitmine Immersion Technologies disclosed a $3.82 billion quarterly loss, largely driven by $3.78 billion in unrealized losses tied to its Ether holdings. The company reported $11 million in revenue, including $10.2 million from ETH staking activities.
Ether has declined about 43% since October 2025, trading near $2,327, significantly below Bitmine’s reported average cost basis of $3,660. Despite the downturn, Bitmine purchased 71,524 ETH recently, bringing its holdings to roughly 4.6 million ETH, representing about 4.04% of total Ether supply.
Corporate Ether Holdings and Long-Term Market Expectations
Bitmine remains the largest corporate Ether holder, with holdings valued at over $10 billion, followed by SharpLink Gaming, which holds approximately 863,000 ETH worth about $1.89 billion. Another firm, Exodus Movement, is among the few companies to publicly report Ether treasury additions in recent weeks.
Lee’s forecast suggests that if Ethereum eventually reaches one-quarter of Bitcoin’s long-term valuation, Ether could achieve multi-year price expansion, reinforcing expectations that institutional demand and network growth may drive future market cycles.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.