Bitmine Doubles Down: Snaps Up Another 7,080 ETH in Aggressive Accumulation Strategy
Another day, another massive Ethereum buy order from the institutional playbook.
The Whale's Appetite
Bitmine isn't just dipping a toe in the water—it's building a pool. The firm's latest seven-thousand-plus ETH purchase signals a relentless, almost mechanical, accumulation strategy. This isn't speculative day-trading; it's a calculated bet on long-term infrastructure and value.
Reading the Tape
When institutions move this consistently, they're not reacting to daily charts. They're positioning for a future where Ethereum's network is the backbone, not just an asset. Each purchase is a vote of confidence in the protocol's utility, a direct challenge to the 'digital gold' narrative that sidelines its real-world function.
The Bigger Picture
Forget the short-term noise. Moves like this cut through the hype cycle and point to a simple truth: smart money is building positions for the next decade, not the next quarter. It's a stark contrast to the quarterly-earnings hamster wheel of traditional finance—where vision is often sacrificed at the altar of immediate shareholder returns.
One firm's buying spree doesn't make a bull market, but it sure paints a picture of where the confident capital is flowing. While Wall Street analysts debate P/E ratios, the new guard is busy acquiring the protocols that will define the next era of finance itself.
Bitmine Expands Its Massive Ethereum Position
According to on-chain data from Arkham, shared by Lookonchain, Bitmine has continued its aggressive accumulation strategy, purchasing an additional 7,080 ETH—worth approximately $19.8 million—just a few hours ago.
This latest buy adds to a series of repeated inflows over the past several weeks, reinforcing the firm’s conviction even as ethereum trades near multi-month lows. Bitmine’s willingness to keep adding during periods of heightened volatility has become one of the most notable accumulation trends in the market.
With this purchase, Bitmine’s total Ethereum holdings have climbed to roughly 3.43 million ETH, now valued at around $9.6 billion at current prices. This positions the firm as one of the largest known institutional holders of ETH, and its continued accumulation stands in sharp contrast to the broader atmosphere of fear and defensive positioning. While many traders are reducing exposure amid Ethereum’s sharp decline, Bitmine appears to be doubling down.
Such behavior from a major entity often signals longer-term confidence in Ethereum’s fundamentals, regardless of short-term price action. For investors, Bitmine’s expanding position has created a counter-narrative to prevailing bearish sentiment, suggesting that deeper-pocketed players may be preparing for a recovery once the market finishes resetting.
ETH Tests Weekly Support as Trend Weakens
Ethereum’s weekly chart shows a significant loss of momentum, with price breaking below the 50 SMA and now sitting directly on top of the 100 SMA NEAR the $2,750–$2,800 region. This zone has historically served as an important structural support during prior corrections, making the current interaction a critical moment for the broader trend. The sharp rejection from the $4,500 level marks one of ETH’s steepest weekly declines since 2022, highlighting the intensity of the current sell-off.
The 50 SMA has begun to curl downward, signaling early signs of medium-term trend weakness. Meanwhile, the 100 SMA is flattening, acting as the last dynamic support before the 200 SMA at $2,450, which represents the true long-term floor. A clean weekly close below the 100 SMA WOULD open the door to a deeper retracement toward that level.
Volume has increased during the recent decline, reflecting forced selling and derivatives-driven liquidations rather than orderly profit-taking. Despite this, the long lower wicks forming near $2,700 suggest buyers are still attempting to defend the area.
Featured image from ChatGPT, chart from TradingView.com
