Ethereum’s Institutional Embrace: Bitmine’s Strategic Accumulation Signals Bullish Future

In a bold move underscoring growing institutional confidence, Bitmine Immersion Technologies has significantly expanded its ethereum holdings, acquiring nearly 100,000 ETH in a single week as part of a $128 million buying spree. This latest accumulation brings the firm's total stash to over 4 million ETH, representing approximately 3.39% of Ethereum's entire circulating supply. The strategic purchases, executed at an average price of $2,991, follow another major $40 million acquisition earlier in the month, highlighting a deliberate and accelerating accumulation strategy. Data from Lookonchain reveals that a substantial portion of this latest buy—29,462 ETH worth $88 million—was sourced through established custodians Kraken and BitGo, indicating sophisticated treasury management. This aggressive positioning by Bitmine is particularly noteworthy as it edges closer to its apparent goal of controlling 5% of all ETH in circulation. Such a substantial concentration of supply in the hands of a single, bullish institution could have profound implications for Ethereum's market dynamics, potentially reducing liquid supply and increasing scarcity. As of late December 2025, this activity signals a powerful vote of confidence in Ethereum's long-term value proposition, from its foundational role in decentralized finance to its ongoing technological upgrades. For investors and observers, Bitmine's actions provide a compelling narrative: major financial players are not just dipping their toes but are diving deep into core crypto assets, building strategic reserves that could shape the market's trajectory for years to come.

Bitmine Amasses 4M ETH in $128M Buying Spree, Nears 5% Supply Goal

Bitmine Immersion Technologies now holds 3.39% of Ethereum's circulating supply after acquiring 98,852 ETH last week at an average price of $2,991. The $128 million purchase marks the firm's second major accumulation this month, following a $40 million buy that initially pushed its holdings past 4 million ETH.

Lookonchain data reveals Bitmine sourced 29,462 ETH ($88M) through Kraken and BitGo custodians. The treasury now controls 4.095 million ETH—enough to influence staking dynamics when its dedicated network launches in early 2026.

The buying spree reflects institutional confidence in Ethereum's post-Merge economics. Bitmine has executed 67% of its stated goal to control 5% of ETH's total supply, a threshold that WOULD make it the largest single holder outside of exchanges and decentralized protocols.

Ethereum Holds $3,000 Amid ETF Outflows, Miner Accumulation

Ethereum clings to psychological support at $3,063.96 after weathering $555 million in U.S. ETF outflows last week—part of a broader $952 million crypto fund retreat. The asset now faces critical resistance between $3,161 and $3,450, with its 50-day moving average looming as a technical ceiling.

Bitmine's aggressive accumulation strategy adds intrigue: the miner now holds 4.07 million ETH (3.37% of supply) after adding 98,852 ETH in seven days. This $13.2 billion position contrasts sharply with institutional ETF withdrawals, highlighting divergent market forces.

Short-term indicators flash bullish signals—the 10-day EMA ($3,002.5) and 20-day EMA ($3,030.7) now act as floors. Yet the real test comes at $3,161, where Ethereum must conquer its 50-day SMA to confirm momentum.

Ethereum Price Struggles Amid Institutional Outflows, Analysts Eye $5K Rally

Ethereum faces sustained selling pressure, with spot ETF outflows and whale activity dragging prices down nearly 40% from August's peak. The second-largest cryptocurrency now hovers near $3,000 as market direction remains uncertain.

Institutional demand wanes as BlackRock's ETHA leads seven consecutive days of ETF outflows, shedding $558.1 million in just five days. A brief $84.6 million inflow on December 22 failed to reverse the trend. On-chain data reveals whales dumped $360 million worth of ETH last week, creating persistent resistance to price recovery.

All eyes turn to December 26's $3.8 billion ETH options expiry on Deribit, part of a record $28.5 billion crypto options roll-off. Despite current headwinds, top analysts maintain bullish forecasts, projecting an eventual rally toward $5,000.

BitMine Doubles Down on Ethereum with $88 Million Purchase

BitMine Immersion Technologies, led by Fundstrat co-founder Tom Lee, has acquired an additional 29,462 ETH worth $88 million through BitGo and Kraken. The MOVE expands its treasury holdings to 4,066,062 ETH—purchased at an average price of $2,991 per token—now valued at approximately $12 billion.

The company’s aggressive accumulation strategy aims to control 5% of Ethereum’s circulating supply. Since adopting its treasury strategy in June 2024, BitMine’s stock (BMNR) has more than doubled. The firm plans to monetize its holdings via staking through its upcoming Made in America Validator Network (MAVAN).