The ETH price holding above $3,000 came as BitMine announced the purchase of 102,259 ETH last week.
Ethereum (ETH) price showed broader weakness as it fell to the $3,000 level on Monday, with this coming amid further corporate accumulation.
As Bitcoin’s dip below $88k reflects broader market weakness, the key question is whether Ethereum bulls can ride the confidence in the top altcoin’s long-term potential.
BitMine Immersion Technologies’ huge purchases of ETH point to this outlook.
BitMine Immersion Technologies has further expanded its dominant Ethereum position.
On December 15, 2025, the publicly-traded company announced the acquisition of an additional 102,259 ETH over the past week.
This purchase brings the company’s total holdings to 3,967,210 ETH, valued at approximately $12.2 billion at current prices.
Notably, the latest addition continues a pattern of consistent accumulation during periods of price stabilization.
Previously, on December 8, BitMine reported holdings exceeding 3.86 million ETH, implying the prior week’s purchase of around 138,452 tokens.
Earlier, in the week leading to December 1, the company added 96,798 ETH, pushing holdings to 3.73 million at that time.
BitMine’s approach draws clear parallels to the pioneering Bitcoin treasury model popularised by Michael Saylor at Strategy (formerly MicroStrategy).
Like Strategy for BTC, Bitmine has amassed the world’s largest corporate Ethereum holdings.
BitMine’s total crypto, cash, and investment holdings now stand at $13.3 billion.
It 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 pivoted strongly toward long-term ETH accumulation, with this funded through capital raises and operational efficiency.
Thomas “Tom” Lee of Fundstrat, Chairman of BitMine, said:
2025 saw many positive developments in digital assets, including positive legislation passed by the US Congress and favorable regulations, and strengthened support from Wall Street. These strengthen our conviction that the best days for crypto are ahead and why we continue to accumulate ETH towards our ‘alchemy of 5%’ target.
BitMine’s strategic buys have been executed amid Ethereum’s price resilience, with robust support established near the $3,000 psychological level.
In the past 24 hours, the ETH price has hovered in the $3,175 and $3,034 range.
If prices dip below the $3k mark, ETH is likely to retest the $2,720 lows seen on Dec.1.
Analysts however note that ETH has shown resilience and a decent bounce above $3,100 could pave the way for a retest of higher resistance around $3,500. Network enhancements, easing monetary policy and corporate buys are likely bullish catalysts.
