Bitmine Immersion Applied sciences Chairman Tom Lee mentioned on Wednesday that the latest crypto downturn is a “mini-crypto winter” which will already be over, in feedback shortly after the corporate disclosed a multibillion-dollar quarterly loss primarily associated to unrealized losses on its Ether holdings.
In his keynote speech at Paris Blockchain Week in 2026, Mr. Lee mentioned that the inventory market will backside out because of the struggle between the US, Israel, and Iran, and that Ether ($ETH) will emerge from “huge integration” pushed by tokenization and agent synthetic intelligence efforts related to good contract networks.
Lee argued that inventory costs have hit all-time low, resulting in a restoration from what he referred to as an “unprecedented” crypto market downturn, which for the primary time didn’t coincide with a broader bear market within the inventory market. “Inventory markets backside out on unhealthy information, and we’ve lots of unhealthy information,” Lee mentioned, citing the historic instance of the inventory market bottoming out after the outbreak of struggle.
Lee additionally mentioned $ETH If his market concept is right, he later mentioned that his truthful worth situation for the subsequent few years could be $62,000, provided that Ethereum could be a couple of quarter of Bitcoin ($BTC) long-term worth.
His feedback come amid a broader crypto market downturn, the place the worth of Ether has fallen 43% since October 2025, in keeping with Bitmine Tracker information, and is buying and selling at round $2,327 on the time of writing, effectively under Bitmine’s common value base of $3,660.
Bitmine posts $3.8 billion in quarterly losses on Ether holdings
Lee’s feedback additionally come after Bitmine posted a $3.82 billion loss on its Ether holdings within the first quarter of this 12 months, in keeping with a Tuesday submitting with the U.S. Securities and Trade Fee.
This determine was primarily pushed by unrealized losses on the corporate’s cryptocurrency holdings of over $3.78 billion. Bitmine additionally reported $11 million in income. Of this, $10.2 million is $ETH Staking.
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Regardless of mounting losses, Bitmine introduced the acquisition of 71,524 Ether on Monday, and the corporate now holds about 4.04% of the entire Ether provide. The most recent acquisition comes shortly after Bitmine went public on the New York Inventory Trade on April ninth, off the NYSE American.
Bitmine and Exodus Motion are the one two Ether monetary corporations which have publicly disclosed their investments in Ether up to now 30 days.
Bitmine is the biggest company Ether holder with 4.6 million folks $ETH In keeping with StrategicEthReserve information, its worth is at the moment over $10 billion, with SharpLink Gaming in second place with 863,000 Ether price $1.89 billion.
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