Bitmine Immersion Applied sciences chairman Tom Lee mentioned Wednesday that the current crypto stoop was a “mini crypto winter” that will already be ending, in feedback that got here shortly after the corporate disclosed a multibillion-dollar quarterly loss tied largely to unrealized markdowns on the corporate’s Ether holdings.
Throughout a keynote speech at Paris Blockchain Week 2026, Lee mentioned that fairness markets have bottomed as a result of US-Israel warfare with Iran, and that Ether ($ETH) will emerge from its “large consolidation,” pushed by tokenization and agentic synthetic intelligence initiatives tied to the good contract community.
Lee argued that equities have reached their backside, resulting in a restoration from what he known as an “uncommon” crypto market downturn, which didn’t coincide with a wider bear market in shares for the primary time. “Fairness markets backside on dangerous information. And we’ve had lots of dangerous information,” mentioned Lee, citing historic examples of inventory markets bottoming out after the outbreak of wars.
Lee additionally mentioned $ETH is “most likely on its approach to 60,000” if his market thesis is right and later described $62,000 as a fair-value state of affairs over the subsequent few years, based mostly on Ethereum reaching roughly one-quarter of Bitcoin’s ($BTC) long-term worth.
His feedback come amid a wider crypto market downturn that has seen Ether’s worth fall 43% since October 2025 to commerce round $2,327 on the time of writing, considerably beneath Bitmine’s common price foundation of $3,660, in response to information from Bitminetracker.
Bitmine posts $3.8 billion quarterly loss on Ether holdings
Lee’s feedback additionally comply with Bitmine’s posting of a $3.82 billion loss on its Ether holdings through the first quarter of the yr, in response to a Tuesday submitting with the US Securities and Trade Fee.
The determine was primarily pushed by the corporate’s over $3.78 billion in unrealized losses on its crypto holdings. Bitmine additionally reported $11 million in income, together with $10.2 million from $ETH staking.
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Regardless of the mounting losses, Bitmine introduced a purchase order of 71,524 Ether on Monday, with the corporate now holding roughly 4.04% of the overall Ether provide. The most recent acquisitions got here shortly after Bitmine debuted on the New York Inventory Trade on April 9, uplisting from NYSE American.
Bitmine and Exodus Motion are the one two Ether treasury firms to publicly disclose Ether investments over the previous 30 days.
Bitmine is the most important company Ether holder with 4.6 million $ETH at the moment valued at over $10 billion, whereas SharpLink Gaming is second, with 863,000 Ether value $1.89 billion, information from StrategicEthReserve reveals.
Journal: Sharplink exec shocked by stage of $BTC and $ETH ETF hodling — Joseph Chalom
