Tom Lee: End of ‘Mini Crypto Winter,’ as Bitmine Posts $3.8B Quarterly Loss
Tom Lee believes the 'mini crypto winter' is over, with Ether potentially reaching $60K, despite Bitmine's $3.8B quarterly loss.Summary
Bitmine Immersion Technologies chairman Tom Lee declared that the recent crypto downturn, which he termed a 'mini crypto winter,' is likely over. His remarks coincided with Bitmine's disclosure of a substantial $3.82 billion quarterly loss, primarily due to unrealized markdowns on its Ether holdings. Lee, speaking at Paris Blockchain Week 2026, also suggested that equity markets have bottomed due to geopolitical events, and that Ether (ETH) is poised for a recovery driven by tokenization and AI initiatives. He forecasts Ether could reach $60,000 to $62,000 in the coming years, representing about a quarter of Bitcoin's long-term value. This outlook comes as Ether's price has fallen significantly since October 2025, trading below Bitmine's average cost basis. Despite the reported losses, Bitmine recently purchased over 71,000 Ether, increasing its holdings to approximately 4.04% of the total supply, making it the largest corporate Ether holder.
(Source：Cointelegraph)