BitMine Accelerates Ethereum Accumulation With Fresh $100M Buy

3d ago•

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This article was first published on The Bit Journal. Ethereum-focused treasury firm BitMine Immersion Technologies has intensified its Ethereum accumulation strategy, adding nearly $100 million worth of Ether to its balance sheet as broader crypto markets remain muted in the final days of 2025.

Nansen reported that on Tuesday, the company purchased 32,938 ETH worth about 97.6 million. The newest acquisition brings the total Ether of BitMine to approximately 4.07 million ETH, which is now valued at nearly 12 billion dollars according to the current market prices, which again gives the company a strong position among the major institutions in Ethereum acquisition.

BitMine Deepens Ethereum Accumulation Through Staking

Alongside the acquisition, BitMine has also staked 118,944 ETH, which is part of its long-term Ethereum accumulation strategy, as it creates passive yield, by staking rewards while holding the asset on behalf of shareholders.

The aggressive purchasing occurs as the wider crypto market grapples to attain momentum. BitMine Ethereum strategy leader Tom Lee said the quiet price action was partly due to the seasonal tax action in the United States. Tom Lee noted:

“Year-end tax-loss related selling is pushing down crypto and crypto equity prices and this effect tends to be the greatest from 12/26 to 12/30, so we are navigating markets with this in mind.”

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Chairman Thomas “Tom” Lee states:

"Market activity tends to slow as we enter the final holiday weeks of a calendar year. Bitmine added 44,463 ETH in the past week, as we continue to be the largest 'fresh money' buyer of ETH in the World."

"Year-end tax-loss related selling…

— Bitmine (NYSE-BMNR) $ETH (@BitMNR) December 29, 2025

Tax-Loss Selling and Thin Holiday Liquidity

Tax-loss selling usually peaks towards the end of December when investors sell poorly performing stocks in order to offset capital gains and lower taxable income. Fundstrat founder and managing partner Lee, further said that lower institutional trading during the Christmas holidays period has further burdened the prices enabling algorithmic trading bots to take over activity.

This selling pressure and lean liquidity have brought a halt in upward price movement. According to the CoinGecko data, the overall cryptocurrency market capitalization has been near the 3 trillion mark over the last two weeks, highlighting no real strong directional movement.

Tax-Loss Selling and Thin Holiday Liquidity

BitMine Widens Lead in Ethereum Accumulation

BitMine has maintained its Ethereum accumulation at a faster rate despite the market deceleration. The firm, which had over 77,400 ETH in the treasury since last Monday, has grown its gap on the rest of its competition and, as Lee explains it, has become the largest fresh money buyer of Ether.

BitMine has since bought over 40,000 ETH weekly in at least ten weeks straight, a strong indication that they are confident with the Ethereum accumulation as prices stay range-bound.

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Here are our weekly buys by week Weekly ETH buys (by week ending):
-12/29/25: 44,463 ETH tokens
-12/22/25: 98,852 ETH tokens
-12/15/25: 102,259 ETH tokens
-12/8/25: 138,452 ETH tokens
-12/1/25: 96,798 ETH tokens
-11/24/25: 69,822 ETH tokens
-11/17/25: 54,156 ETH… pic.twitter.com/80KrtK5uv1

— Bitmine (NYSE-BMNR) $ETH (@BitMNR) December 29, 2025

Wealth Tax Proposal Sparks Crypto Industry Backlash

The plan is being implemented in the wake of a political debate regarding wealth taxation in the United States. A proposed wealth tax on billionaires of 5% with levies on unrealized gains was criticized by several leaders of the crypto industry recently. Critics believe that the policy would trigger a capital and entrepreneurial exodus out of technology-led areas.

This will be the last straw, I promise you, former Kraken CEO Jesse Powell said earlier this week. Billionaires will carry everything with them in the form of spending, hobbies, philanthropy and jobs.

With markets entering the last few days of the year with some pressure, the ongoing Ethereum accumulation at BitMine signifies a belief that the current weakness in markets is a strategic opportunity and not a reversal of the long term trend.

Conclusion

With markets shutting down at the end of the year, the Ethereum accumulation by BitMine indicates a belief that the existing weakness is a strategic point of entry. The continuous accumulation of its ETH in the face of dull trading and political instability is placing the company in a vantage position where it can experience an increase after liquidity and investor confidence come back.

Summary

BitMine Immersion Technologies bought $97.6M worth of Ether, increasing total holdings to 4.07M ETH ($12B).
The company also staked 118,944 ETH to earn passive returns for shareholders.
Market weakness is driven by year-end tax-loss selling and low institutional activity, keeping crypto around $3T.
BitMine remains the largest “fresh money” buyer, acquiring 40,000+ ETH weekly for 10 consecutive weeks.

Glossary Of Key Terms

BitMine Immersion Technologies: Ethereum-focused treasury firm accumulating and staking ETH.
Institutional Trading: Trades made by large organizations.
Fresh Money Buyer: Investor buying with newly deployed capital.
Wealth Tax: Tax on net worth, including unrealized gains.
Range-Bound Prices: Prices trading within a fixed range.