- Ethereum’s price fell to a low of $3,034 while Bitcoin slipped below $88,000.
- ETH trading above $3,000 comes as BitMine last week announced the purchase of 102,259 ETH.
- Bulls could leverage corporate buying sentiment to push prices higher.
Ethereum (ETH) showed broad weakness as its price dipped to the $3,000 level on Monday, even amid another wave of corporate accumulation.
With Bitcoin dropping below $88,000 and signaling wider market weakness, the key question is whether Ethereum’s bullish trends can capitalize on renewed confidence in the long-term prospects of the largest altcoin.
Large ETH purchases by BitMine Immersion Technologies highlight this thesis.
BitMine buys an additional 102,259 ETH
BitMine Immersion Technologies continued to expand its dominant Ethereum position.
On December 15, 2025, the publicly traded company announced the acquisition of another 102,259 ETH over the prior week.
This purchase increases the company’s total holdings to 3,967,210 ETH, worth approximately $12.2 billion at current prices.
Notably, the latest addition continues a clear pattern of consistent accumulation during periods of price consolidation.
Previously, on December 8, BitMine reported holdings exceeding 3.86 million ETH, indicating roughly 138,452 tokens bought the prior week.
In the week ending December 1, the firm added 96,798 ETH, bringing its holdings to about 3.73 million at that time.
MicroStrategy-style accumulation
BitMine’s approach closely mirrors the corporate treasury model popularized by Michael Saylor’s MicroStrategy, which built a substantial Bitcoin position.
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 Strategy with Bitcoin, BitMine has accumulated the largest corporate Ethereum position globally.
BitMine’s total crypto, cash, and investment assets now stand at $13.3 billion.
That includes $1 billion in unencumbered cash, a small Bitcoin holding of 193 BTC, and a $38 million stake in Eightco Holdings.
The company operates mining facilities in low-cost energy regions such as Texas and Trinidad.
However, its strategy has strongly prioritized long-term ETH accumulation, funded through capital markets activity and operational efficiencies.
Thomas “Tom” Lee of Fundstrat, BitMine’s executive chair, said:
2025 brought many positive developments for digital assets, including favorable legislation in the U.S. Congress, supportive regulatory moves, and stronger backing from Wall Street. These trends reinforce our belief that the best days for crypto lie ahead and explain why we continue to accumulate ETH toward our “alchemical 5%” target.
Can ETH bulls hold the $3,000 level?
BitMine’s strategic purchases were executed amid Ethereum’s price resilience, with strong support forming near the psychological $3,000 level.
Over the last 24 hours, ETH traded between $3,175 and $3,034.
If prices fall below $3,000, ETH would likely retest the December 1 lows near $2,720.
Analysts note, however, that ETH has shown resilience, and a sustained rebound above $3,100 could clear the way for a retest of resistance around $3,500. Network upgrades, dovish monetary policy, and continued corporate buying are cited as potential bullish catalysts.
Just as $90,000 has become a key resistance level for Bitcoin, the $3,200–$3,300 zone is now the critical range for Ethereum.