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BitMine Boosts Year-End Strategy with $98M ETH Purchase to Capitalize on Tax Losses



Ethereum Investment Surges Amid Market Saturation



Despite a subdued cryptocurrency market towards the end of 2025, Ethereum treasury company BitMine Immersion Technologies has significantly increased its holdings, acquiring $97.6 million worth of Ether in a single transaction. This move underscores a strategic shift towards accumulation, even as broader market dynamics remain constrained.



Key Takeaways



  • BitMine purchased 32,938 Ether, boosting its total ETH holdings to 4.07 million, valued at approximately $12 billion.

  • The company continues to stake an additional 118,944 ETH, reinforcing its passive income strategy.

  • Market pressures from tax-loss selling, coupled with reduced institutional activity, have kept prices relatively flat around the $3 trillion total market cap.

  • Despite market stagnation, BitMine remains aggressive in accumulating ETH, adding over 77,400 tokens since last week, marking it as the largest new money buyer in the space.



Tickers mentioned: N/A


Sentiment: Bullish toward ETH accumulation despite market headwinds


Price impact: Negative — market conditions have exerted downward pressure on prices, but strategic buying by large holders suggests long-term confidence


Trading idea (Not Financial Advice): Hold — long-term investors may benefit from accumulating during recent dips given institutional interest



The recent surge in ETH purchases by BitMine aligns with a broader pattern of accumulation by major industry players during periods of market stagnation. Since last Monday, the company has amassed more than 77,400 ETH, solidifying its position as a premier buyer, often purchasing over 40,000 ETH weekly for the past ten weeks. This consistent activity signals a strong conviction in Ethereum’s long-term potential, despite the overall crypto market cap hovering near the $3 trillion mark for the past fortnight, according to data from CoinGecko.





Change in crypto market cap over the past fortnight. Source: CoinGecko



Market Conditions and Strategic Accumulation



Market analysts note that the prevailing softness is partly attributable to seasonal tax-loss harvesting activities in the United States, which tend to depress prices from December 26 to December 30. Additionally, institutional investors typically step back from active trading over the holiday season, leaving the market largely to automated trading bots. This combination of events has resulted in subdued volatility and limited upward movement.




"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,”




Looking ahead, market participants are watching for signs of renewed institutional interest, which could serve as a catalyst for a market rebound. Despite current sluggishness, the recent aggressive accumulation by BitMine underpins a bullish outlook for Ethereum’s long-term trajectory.



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