Tom Lee: Ether's five-year target price is $600,000, BitMine insists on only issuing new shares to buy ETH.

Tom Lee, the chairman of BitMine, pointed out in an interview with Mario Nawfal that the financial system will be restructured based on Blockchain, reminiscent of the moment in 1971 when the dollar abandoned the gold standard, and Ethereum will be one of the main beneficiaries. He mentioned that BitMine's strategy is to insist on issuing only new shares and not convertible bonds, keeping the interests of shareholders aligned, which means focusing on accumulating the number of ETH per share, and predicts that ETH is expected to reach a target price of 600,000 USD in the next five years.

EXCLUSIVE INTERVIEW: “ETH TO $60K, BITCOIN TO $1M, AND STABLECOINS WILL FUND THE U.S. GOVERNMENT”

He called Bitcoin at $25K in 2017 – and was laughed at.

Fundstrat’s Tom Lee is one of the most followed macro minds in crypto, with deep ties to Wall Street, CNBC, and the… pic.twitter.com/O69zc63ufH

— Mario Nawfal (@MarioNawfal) August 27, 2025

BitMine insists on only issuing new shares, not convertible bonds.

Tom Lee insists that BitMine must have the cleanest balance sheet, which means issuing new shares only to purchase Ether. The role of issuing convertible bonds or other bonds conflicts with that of issuing new shares, so BitMine insists on issuing only new shares and is committed to increasing the amount of ETH owned per share, ensuring that everyone's direction and goals remain aligned.

The trading volume and volatility of stocks are key. Even if ETH drops, as long as the number of shares of ETH (ETH per share) continues to rise, it is good for shareholders, and the stock price of BMNR can also continue to rise. All this is thanks to the speed at which the treasury accumulates ETH, which is also the reason BitMine can continuously and rapidly accumulate ETH.

If mNAV is below 1, BitMine can enter the market to support the price.

In addition, even if mNAV is below 1 ( and the market value of the stock is lower than the net value of the crypto assets ), BitMine can implement a stock buyback plan to buy BMNR to boost the stock price, just like the operation of an ETF, where the authorized participants of the ETF (AP) will enter the market to arbitrage when the ETF market price deviates from the net asset value (NAV), in order to maintain consistency between the market price and NAV. Similarly, BitMine can operate in this manner on its own.

ETH five-year price target: 600,000 USD

Tom Lee maintains his target price for Bitcoin (BTC) at $200,000 by the end of the year, with the potential to rise to a million dollars in the future.

Ethereum has more than doubled its potential for growth by the end of the year. However, in the long term, he sets the five-year target price for ETH at 600,000 USD.

This article Tom Lee: The five-year target price for Ether is 600,000 USD, BitMine insists on only issuing new shares to buy ETH, first appeared in Blockchain news ABMedia.