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BitMine Immersion Technologies, the largest institutional holder of Ethereum (ETH), doubled its purchases of ETH in December, reflecting confidence in the asset.
The renewed buying happened despite the challenging environment for Ethereum. The increase in exchange flows and the exits of exchange-traded funds (ETFs) indicate a tight grip in the market.
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Bitmain buys 138,452 Ether per day in a week, and now controls 3.2% of the supply.
According to a recent disclosure, BitMine has acquired… 138,452 ETH last week, This represents a 156% increase over the previous four weeks. His total possessions Up to 3.86 million ETH.
This represents more than 3.2% of the circulating supply of Ethereum. Additionally, it puts BitMine two-thirds away from its goal of reaching 5% of the ETH supply.
Since adopting ETH as a reserve asset, BitMine has continued to trade on a large scale. Between June 30 and October 5, BitMine collected 2.83 million ETH. Since October 5, he has added another 1.03 million ETH to his holdings.
Ethereum’s weakness throughout Q4 makes BitMine’s ongoing rally even more worthwhile. Since the beginning of October, ETH has lost about 24.8% of its value, reflecting the continued upward pressure.
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December arch A little break from the trend. The price has risen by more than 4% since the beginning of the month, and with it BitMine’s purchases of ETH have increased.
According to BitMine CEO Tom Lee, the acceleration of buying activity by the company reflects his confidence that ETH is likely to see gains in the coming months, supported by several key catalysts.
These incentives include promotion Fusaka, it was done It was activated last week and provides significant improvements to the scalability, security and overall efficiency of the Ethereum network. BitMine also points to the broader economic backdrop, with the Federal Reserve ending quantitative easing and potentially delivering another interest rate cut tomorrow.
Together, these developments form the basis of the company’s opinion that market conditions may be more supportive for ETH after weeks of volatility.
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Market conditions indicate near-term volatility
However, she points out Network data to watch out for. CryptoOnchain noted that the net inflow of Ethereum to Binance has increased. The exchange received 162,084 ETH on December 5, 2025. This was the largest daily flow of ETH to the exchange since May 2023.
Large deposits on exchanges often indicate impending selling pressure, as investors usually transfer tokens to platforms before liquidation.
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Additionally, Ethereum ETFs also indicate declining demand. Where to see the ETF A record net inflow of $1.4 billion in November 2025, marking the largest monthly withdrawal to date.
The trends continued in December. According to SoSoValueAnother $65.59 million was withdrawn from ETH-focused ETFs in the first week of the month.
The persistent discrepancies between the direct accumulation and redemption of ETFs highlight the fragmentation of the market, with individual and institutional players following different strategies. Regarding Ethereum predictions.
