Ethereum

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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 (<a href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow">ETH</a>) during the past two days, through a $68 million ETH&nbsp;acquisition on Saturday and another $130.7 million buy on Friday, <a href="https://x.com/lookonchain/status/1997172222205821053" rel="noopener noreferrer nofollow">according</a> 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 <a href="https://www.strategicethreserve.xyz/" rel="noopener noreferrer nofollow">StrategicEthReserve</a>.
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.
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 <img src="https://s3.cointelegraph.com/uploads/2025-12/019af592-e70f-7386-b0e3-60cce9ccc120" title="" alt="BitMine buys $199M in Ether as smart money traders bet on ETH decline">
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 Largest corporate Ether holders. Source: Strategicethreserve.xyz
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Related: <a href="https://cointelegraph.com/news/ethereum-ico-whale-60m-9-500x-gain-top-1-buying-eth" rel="noopener noreferrer nofollow">Ethereum ICO whale cashes out $60M after 9,500x gain as top 1% keep buying ETH</a>
BitMine’s investment comes amid a significant slowdown in digital asset treasury (DAT) activity, which saw corporate <a href="https://cointelegraph.com/news/ethereum-treasury-trade-unwinds-80-bitmine-dominant" rel="noopener noreferrer nofollow">Ether acquisitions fall</a> 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.
Related: <a href="https://cointelegraph.com/news/bitcoin-stablecoin-settlement-visa-mastercard-consumers" rel="noopener noreferrer nofollow">Bitcoin now settles Visa-scale volumes, but most is for wholesale, not coffee</a>
<h2 id="smart-money-traders-are-betting-on-ether-s-price-decline">Smart money traders are betting on Ether’s price decline</h2>
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.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2025-12/019af592-e9b6-7f88-92b3-332225b2332a" title="" alt="BitMine buys $199M in Ether as smart money traders bet on ETH decline">
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 Smart money traders top perpetual futures positions on Hyperliquid. Source: Nansen
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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 <a href="https://app.nansen.ai/smart-money?tab=tokens&amp;chains=hyperliquid" rel="noopener noreferrer nofollow">Nansen</a>.
Ethereum exchange-traded funds (ETFs), a significant driver of liquidity for Ether, also continue to lack demand.&nbsp;
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2025-12/019af592-eba6-7bc6-acb2-49d592065f71" title="" alt="BitMine buys $199M in Ether as smart money traders bet on ETH decline">
 <figcaption>
 Ethereum ETF Flow USD, in million. Source: Farside Investors
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</figure>
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, <a href="https://farside.co.uk/eth/" rel="noopener noreferrer nofollow">according </a>to Farside Investors.<iframe src="https://www.youtube.com/embed/raHu7CikfJ0?start=" sandbox="allow-scripts allow-same-origin allow-popups allow-forms"></iframe>
Magazine: <a href="https://cointelegraph.com/magazine/blackrock-sharplink-gaming-joseph-chalom-bitcoin-ethereum-etfs/" rel="noopener noreferrer nofollow">Sharplink exec shocked by level of BTC and ETH ETF hodling — Joseph Chalom</a>

BitMine buys $199M in Ether as smart money traders bet on ETH decline

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