BitMine buys $199M in Ether as smart money traders bet on ETH decline
BitMine Immersion Technologies, the world’s largest corporate Ether holder, continues buying the dip, despite the industry’s most successful traders betting on Ethereum's price fall.
BitMine acquired $199 million worth of Ether (ETH) during the past two days, through a $68 million ETH acquisition on Saturday and another $130.7 million buy on Friday, according to blockchain data platform Lookonchain.
With the latest investments, BitMine now holds $11.3 billion, or 3.08%, of the total Ether supply, closing in on its 5% accumulation target, according to data from the StrategicEthReserve.
BitMine’s continued accumulations are a strong sign of conviction in Ether's long-term growth potential. The company holds an additional $882 million in cash reserves, which may be used for more Ether accumulation.
BitMine’s investment comes amid a significant slowdown in digital asset treasury (DAT) activity, which saw corporate Ether acquisitions fall 81% in three months, from 1.97 million Ether in August to 370,000 in net ETH acquired in November.
Despite the slowdown, BitMine accumulated the lion’s share, or 679,000 Ether worth $2.13 billion during the past month.
Smart money traders are betting on Ether’s price decline
The crypto industry’s best-performing traders by returns, who are tracked as “smart money” traders on Nansen’s blockchain intelligence platform, are betting on the short-term depreciation of Ether’s price.
Smart money traders added $2.8 million in short positions over the past 24 hours, as the cohort was net short on Ether, with a cumulative short position of $21 million, according to Nansen.
Ethereum exchange-traded funds (ETFs), a significant driver of liquidity for Ether, also continue to lack demand.
The spot Ether ETFs recorded $75.2 million in net positive outflows for the second consecutive day on Friday, following the $1.4 billion in monthly outflows in November, according to Farside Investors.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Zcash Halving and Its Potential Impact on Cryptocurrency Market Fluctuations
- Zcash's 2025 halving cut block rewards by 50%, tightening annual inflation to 2%, sparking debates on supply reduction's impact on investor sentiment and institutional adoption. - ZEC surged 1,172% post-halving but faced extreme volatility ($736 to $25.96 in 16 days), driven by speculative trading and liquidity constraints in its $10.3B market cap. - Institutional adoption accelerated with Grayscale's $151.6M investment and Zcash ETF filing, while EU's MiCA regulations challenge privacy coins but Zcash's
ICP Price Jumps 30%: Exploring the Driving Forces and Long-Term Investment Outlook
- ICP token surged 30% in Nov 2025 to $4.71, driven by ICP 2.0 upgrades and institutional partnerships with Microsoft , Google, and SWIFT. - Price retreated to $3.50 by Dec 2025 amid waning AI hype, macroeconomic pressures, and speculative trading volatility. - NVT ratio and DCF analyses highlight valuation challenges, with optimistic 2026 price projections ($11.15–$31.89) contingent on real-world adoption and institutional traction. - Market dynamics reveal a duality: innovative infrastructure potential v
AI and Financial Stability in 2025: The Role of ICP Caffeine AI in Transforming Risk Management Amid Market Uncertainty
- ICP Caffeine AI, DFINITY's blockchain-AI platform, reduces AI inference costs by 20-40% while enabling real-time financial risk analysis through hybrid cloud-decentralized infrastructure. - AI-driven risk tools outperform traditional VaR models by 10% in predictive accuracy, achieving 60% efficiency gains for institutions through real-time data processing and regulatory integration. - Despite $237B TVL and 56% ICP price growth, the platform faces challenges including 22.4% dApp activity decline, token vo
Why is Internet Computer (ICP) Experiencing Rapid Growth in Late 2025: An In-Depth Examination of Blockchain Expansion and the Evolution of Decentralized Web Systems
- Internet Computer Protocol (ICP) surges in late 2025 due to protocol upgrades, institutional adoption, and alignment with AI-driven finance trends. - Chain Fusion enables cross-chain interoperability with Bitcoin/Ethereum, while Caffeine AI democratizes dApp development via natural language prompts. - Institutional adoption grows with 2,000+ new developers, $1.14B TVL, and zero-fee transactions attracting financial institutions seeking cost-efficient solutions. - ICP's hybrid cloud/Web3 model addresses e
Trending news
MoreCrypto prices
More
