- Ethereum fell to a low of $3,034 while Bitcoin slipped below $88,000.
- ETH remains above $3,000 partly because BitMine announced the purchase of 102,259 ETH last week.
- Bullish momentum could follow if corporate sentiment continues to support accumulation.
Ethereum (ETH) briefly dropped to around $3,000 on Monday, highlighting broader market weakness despite ongoing corporate accumulation.
Bitcoin falling under $88,000 reflects this fragile backdrop, and a key question is whether Ethereum bulls can translate confidence in the top altcoin’s long-term potential into renewed upward momentum.
Large-scale ETH purchases by BitMine Immersion Technologies provide a clear example of institutional conviction in the asset.
BitMine adds another 102,259 ETH
BitMine Immersion Technologies has expanded its dominant position in Ethereum holdings.
On December 15, 2025, the publicly listed company announced it acquired an additional 102,259 ETH over the past week.
That purchase brings BitMine’s total holdings to 3,967,210 ETH, a position currently worth roughly $12.2 billion at prevailing prices.
The latest addition underscores the company’s tendency to keep accumulating consistently, even during periods of price consolidation.
Previously, on December 8, BitMine reported holdings above 3.86 million ETH after buying roughly 138,452 tokens the prior week.
Earlier in the month, during the week of December 1, the firm added 96,798 ETH, bringing its total to about 3.73 million ETH at that time.
Ethereum’s corporate strategy mirrors Bitcoin playbook
BitMine’s approach shows clear similarities to the treasury strategy popularized in Bitcoin by Michael Saylor and Strategy—namely, using corporate balance sheets to accumulate a principal crypto asset over time.
Strategy has acquired 10,645 BTC for ~$980.3 million at ~$92,098 per bitcoin and has achieved BTC Yield of 24.9% YTD 2025. As of 12/14/2025, we hodl 671,268 $BTC acquired for ~$50.33 billion at ~$74,972 per bitcoin. $MSTR $STRC $STRK $STRF $STRD $STRE https://t.co/VdAz7pqce1
— Michael Saylor (@saylor) December 15, 2025
Like the corporate Bitcoin strategy, BitMine is building the world’s largest corporate Ethereum treasury.
BitMine’s total crypto, cash and investment holdings now stand at approximately $13.3 billion.
That balance includes $1 billion in unencumbered cash, a small Bitcoin position of 193 BTC, and $38 million in equity holdings in Eightco Holdings.
The company operates mining facilities in low-cost energy regions such as Texas and Trinidad, but it has decisively shifted toward long-term ETH accumulation funded by financing and operational efficiencies.
Thomas “Tom” Lee of Fundstrat (chairman of BitMine) commented:
In 2025 we saw several forward-leaning developments in digital assets—from favorable legislation in the U.S. Congress to clearer regulatory frameworks—which strengthened Wall Street support. These trends reinforce our conviction that the best days for crypto lie ahead, and they underpin our continued ETH accumulation toward our “5% alchemy” objective.
Can ETH bulls hold the $3,000 level?
BitMine’s strategic buying has provided support for Ethereum and helped establish psychological support near $3,000.
Over the past 24 hours, ETH traded between roughly $3,175 and $3,034.
If price falls below $3,000, ETH is likely to retest the December 1 low near $2,720.
However, analysts note that Ethereum has demonstrated resilience; a sustained rebound above about $3,100 could open the path to retesting stronger resistance around $3,500. Factors such as protocol upgrades strengthening the network, looser monetary policy, and continued corporate purchases could all spark bullish momentum.
Just as $90,000 serves as an important resistance level for Bitcoin, the $3,200–$3,300 range represents a critical zone for Ethereum that bulls must reclaim to signal broader strength.