- Ethereum price fell to a low of $3,034, while Bitcoin dropped below $88,000.
- ETH holding above $3,000 occurred as BitMine announced the purchase of 102,259 ETH last week.
- Bulls could leverage corporate sentiment to stage an upside recovery.
The price of Ethereum (ETH) showed broader weakness, slipping to the $3,000 area on Monday amid continued corporate accumulation.
With Bitcoin dropping below $88,000 and signaling wider market weakness, the key question is whether Ethereum bulls can capitalize on confidence in the long-term potential of the leading altcoin.
Large ETH purchases by BitMine Immersion Technologies underline that conviction.
BitMine buys another 102,259 ETH
BitMine Immersion Technologies has further expanded its dominant position in Ethereum.
On December 15, 2025 the publicly traded company announced the acquisition of an additional 102,259 ETH over the past week.
This purchase increases the company’s total holdings to 3,967,210 ETH, valued at roughly $12.2 billion at current prices.
Importantly, this latest addition continues a pattern of steady accumulation during periods of price consolidation.
Earlier, on December 8, BitMine reported holdings above 3.86 million ETH, implying a purchase of about 138,452 tokens that prior week.
In the week ending December 1, the firm added 96,798 ETH, bringing its stake then to 3.73 million.
Ethereum’s corporate treasury model
BitMine’s approach clearly echoes the pioneering corporate treasury model for Bitcoin popularized by Michael Saylor and Strategy (formerly MicroStrategy).
Like Strategy for BTC, BitMine has amassed the largest corporate holdings of Ethereum in the world.
The company’s total crypto, cash and investment assets now stand at $13.3 billion.
That sum includes $1 billion in free cash, a modest Bitcoin position of 193 BTC and $38 million in shares of Eightco Holdings.
BitMine operates mining facilities in low-cost power regions such as Texas and Trinidad, while strongly focusing on long-term ETH accumulation funded through capital raises and operational efficiency.
Thomas “Tom” Lee of Fundstrat, chairman of BitMine, said:
“The year 2025 brought many positive developments for digital assets, including constructive legislation from the US Congress, favorable regulation and strengthened support from Wall Street. This reinforces our belief that the best days for cryptocurrencies lie ahead, and that is why we continue to accumulate ETH toward our ‘5% alchemy’ goal.”
Can ETH bulls hold $3,000?
BitMine’s strategic purchases were executed against a backdrop of ETH price resilience, with solid support forming near the psychological $3,000 level.
Over the past 24 hours, ETH traded between approximately $3,175 and $3,034.
If prices drop below the $3,000 level, ETH is likely to retest the December 1 lows near $2,720.
Analysts note that ETH has shown resilience, and a decent rebound above $3,100 could pave the way for a renewed test of higher resistance around $3,500. Network upgrades, easing monetary policy and corporate buying are probable catalysts for upside.
Just as $90,000 is now a key resistance level for Bitcoin, the $3,200–$3,300 range is crucial for Ethereum.