Aggressive ETH Accumulation Signals Long-Term Confidence Despite Market Weakness
BitMine has strengthened its position as the world’s largest corporate Ethereum holder after reportedly purchasing $140 million worth of ETH during the recent market dip. The move highlights the company’s continued conviction in Ethereum even as prices remain under pressure.
Ethereum Treasury Strategy Accelerates
Onchain data indicates that BitMine acquired 48,049 ETH, valued at approximately $140.58 million, through a transaction linked to a FalconX hot wallet. While the purchase has not yet been formally confirmed, blockchain analysts tracking institutional wallets flagged the activity as consistent with BitMine’s ongoing accumulation pattern.
According to its latest official disclosure, BitMine now holds 3,967,210 ETH, acquired at an average price of $3,074 per ether. At current market levels, the treasury is valued at roughly $11.6 billion, reinforcing the firm’s dominant position among corporate Ethereum holders.
Buying the Dip Amid Market Volatility
Ethereum recently fell below the $3,000 price level, trading near $2,926, down 12% over the past week. Despite this downturn, BitMine has continued buying aggressively, adding more than 240,000 ETH in early December alone.
The company has repeatedly emphasized its long-term objective to control 5% of Ethereum’s circulating supply, citing growing institutional adoption, regulatory clarity, and expanding use cases in global finance.
BitMine’s stock closed higher on Tuesday, rising 1.42% to $31.39, and is now up over 550% in the past six months, reflecting strong investor confidence in its Ethereum-focused strategy.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.