BitMine Makes Massive $98 Million ETH Acquisition at Year-End

BitMine Captivates Crypto Landscape with Impressive Purchase

BitMine has acquired 32,938 ETH for a total of $97.6 million in the final days of 2025, taking advantage of sales driven by tax loss harvesting, according to Tom Lee, an expert from Fundstrat. The demand for ETH was reportedly spurred by sellers looking to minimize losses before the year's end, which kept prices low in the crypto market.

As a result, BitMine has increased its total ETH holdings to 4.07 million, with an estimated value of $12 billion. Additionally, the company has staked 118,944 ETH as part of its strategy to generate passive income for shareholders. Tom Lee emphasized that tax loss-related sales have a significant influence on cryptocurrency prices, especially between December 26 and 30, leading to a suppression of price advances.

Lee explained that during the Christmas period, institutional investor activity tends to slow down, allowing bots to dominate transactions, which contributes to stagnation in upward price movements. Over the last two weeks, the total market capitalization of cryptocurrencies has remained steady around the $3 trillion mark.

Despite the market being in a downward spiral, BitMine continues to purchase ETH, averaging over 40,000 ETH per week for the past ten consecutive weeks. This buying activity gives it a considerable advantage over competitors, making it the largest buyer of ETH with "fresh capital."

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