Tom Lee: Ethereum Could See 'Capitulation Event' in 2026, ETH to Reach $12K

BlockBeats News, January 17th, Tom Lee, Chairman of BitMine and Co-Founder of Fundstrat, stated at the latest BitMine shareholders' meeting that Ethereum is at the core of a new round of financial infrastructure transformation and that 2026 may be a key year for Ethereum's full-fledged breakout.

Tom Lee pointed out that Ethereum reached its historical high in the ETH/BTC exchange rate in 2021. With the tokenization of real-world assets and the accelerated adoption by mainstream financial institutions and users, this ratio is expected to surpass its previous high in 2026. Standard Chartered Bank also regards 2026 as the "Year of Ethereum" and has given a price prediction of $12,000 for Ethereum.

In this context, Tom Lee emphasized that BitMine's business model will directly benefit from the rise in Ethereum price. Based on historical correlation calculations, if the ETH price reaches $12,000, the BitMine (BMNR) stock price theoretically corresponds to about $500.

Furthermore, BitMine will also benefit from Ethereum staking rewards and ample cash reserves. The company currently holds approximately 4.2 million ETH and has around $1 billion in cash. Under the current conditions, it is expected to generate pre-tax income of $402 million to $433 million; if the ETH price rises to $12,000 and the company controls about 5% of the Ethereum supply, the scale of pre-tax income is expected to expand to $2 billion to $2.2 billion.