- Ethereum price fell to lows of $3,034 while Bitcoin slipped below $88,000.
- ETH holding above $3,000 coincided with BitMine announcing the purchase of 102,259 ETH last week.
- Bulls could ride institutional sentiment to push prices higher.
Ethereum (ETH) showed broader weakness as its price dipped to the $3,000 level on Monday, even while institutional accumulation continued.
With Bitcoin dropping below $88,000—reflecting wider market weakness—the key question is whether Ethereum bulls can capitalize on confidence in the top altcoin’s long-term potential.
Large ETH purchases by BitMine Immersion Technologies point to that long-term perspective.
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 during the prior week.
This purchase brings the firm’s total holdings to 3,967,210 ETH, valued at roughly $12.2 billion at current prices.
Notably, the latest addition continues a steady accumulation pattern during periods of price consolidation.
Previously, on December 8, BitMine reported holdings above 3.86 million ETH, implying a purchase of about 138,452 tokens in the preceding week.
In the week before December 1, the company added 96,798 ETH, bringing holdings to approximately 3.73 million at that time.
Ethereum’s MicroStrategy-style strategy
BitMine’s approach draws clear parallels with the treasury-style accumulation model popularized for Bitcoin by Michael Saylor’s Strategy (formerly MicroStrategy).
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 for BTC, BitMine has built one of the largest corporate Ethereum treasuries in the world.
BitMine’s total crypto, cash and investment holdings now stand at $13.3 billion.
That includes $1 billion in unencumbered cash, a small Bitcoin position 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, it has strongly tilted toward long-term ETH accumulation, funded through capital raises and operational efficiencies.
Thomas “Tom” Lee of Fundstrat, Chairman of BitMine, said:
2025 brought many positive developments for digital assets, including pro-growth legislation passed by the U.S. Congress and favorable regulatory clarity, as well as increased support from Wall Street. These factors strengthen our belief that the best days for cryptocurrencies lie ahead and explain why we continue to accumulate ETH toward our ‘5% alchemy’ goal.
Can ETH bulls hold the $3,000 level?
BitMine’s strategic purchases occurred against a backdrop of price resilience for Ethereum, with solid support forming near the psychological $3,000 mark.
Over the past 24 hours, ETH traded between $3,175 and $3,034.
If prices fall below the $3,000 threshold, ETH would likely retest the $2,720 lows recorded on December 1.
Analysts note, however, that ETH has shown resilience and that a strong rebound above $3,100 could open the way to a renewed challenge of resistance near $3,500. Network upgrades, easing monetary policy, and continued institutional buying are all potential bullish catalysts.
Still, just as $90,000 has become a key resistance level for Bitcoin, the $3,200–$3,300 range remains critical for Ethereum’s next directional move.