Bitmine Immersion Technologies Chairman Tom Lee declared the mini crypto winter over at Paris Blockchain Week on April 16, 2026. Lee projected Ethereum could surpass $60,000 in the coming years. He identified tokenization and AI-related initiatives as the primary drivers for this growth.
Lee considers a $62,000 valuation reasonable. This target assumes Ethereum achieves 25% of Bitcoin’s long-term value. Bitmine reported a $3.82 billion unrealized loss on its Ethereum holdings for the first quarter.
The company increased its ETH position despite these paper losses. Bitmine held approximately 4.87 million ETH. The company recorded this total as of April 13.