Bitmine posts $3.8B loss as chair sees Ether hitting $60K

- “Mini crypto winter” as Bitmine’s Tom Lee predicts Ether above $60,000 on tokenization and AI growth - Despite a $3.8 billion quarterly loss, Bitmine raises Ether holdings above 4% of total ETH supply On April 15, 2026, Cointelegraph reported that Bitmine Immersion Technologies chairman Tom Lee described the recent crypto market downturn as a “mini crypto winter” during Paris Blockchain Week and projected that Ether’s price could exceed $60,000 in the coming years. This projection followed Bitmine’s filing with the United States Securities and Exchange Commission, which reported a $3.8 billion quarterly loss driven largely by unrealized losses on Ether holdings, and the firm increased its position to more than 4% of the total ETH supply, making Bitmine the largest corporate holder of Ethereum. During his remarks at Paris Blockchain Week, Lee said he sees both equity and crypto markets as having bottomed and argued that Ethereum’s adoption in tokenization and artificial intelligence will spur major price growth. Despite Ether’s 43% drop since October 2025, with the asset trading near $2,327 at the time, Bitmine has continued building its reserves, and the firm now holds over 4.6 million ETH valued at more than $10 billion. Lee described the current period as one of “massive consolidation” and estimated Ether’s fair value could reach about a quarter of Bitcoin’s, or around $62,000, in several years. According to CoinMarketCap on April 15, 2026, at 15:08 UTC, Ethereum (ETH) was trading at $2,334.88, with a -0.494% 24-hour change in trading volume.