Ethereum Price Outlook: Can Bulls Hold $3,000 As BitMine Buys More ETH?
Ethereum fell to $3,034 as Bitcoin fell below $88,000. BitMine announced that it had bought 102,259 ETH last week, bringing the price of ETH above $3,000. Bulls can be ridden to elevate corporate sentiment.
Ethereum (ETH) price showed broader weakness as it fell to the $3,000 level on Monday, which comes amid more corporate hoarding.
As Bitcoin's fall below $88k shows broader market weakness, the key question is whether Ethereum bulls can ride the faith in the top altcoin's long-term potential.
BitMine Immersion Technologies' massive ETH purchases reflect this view.
BitMine buys another 102,259 ETH
BitMine Immersion Technologies further expanded the dominant Ethereum space.
The company, which will go public on December 15, 2025, announced last week that it had acquired an additional 102,259 ETH.
This purchase brings the company's total holdings to 3,967,210 ETH, which is estimated to be approximately $12.2 billion at current prices.
In particular, recent additions continue a consistent pattern of accumulation during a period of price stabilization.
Previously, on December 8, BitMine reported that it held more than 3.86 million ETH, indicating that it had bought about 138,452 tokens in the previous week.
Earlier in the week to December 1, the company added 96,798 ETH, pushing its holdings to 3.73 million.
Ethereum micro strategy
BitMine's approach bears clear similarities to the pioneering Bitcoin Treasury model popularized by Michael Saylor's Strategy (formerly MicroStrategy).
The strategy acquired 10,645 BTC for ~$980.3 million at ~$92,098 per bitcoin and achieved a BTC yield of 24.9% YTD 2025. As of 12/14/2025 hodl 671,268 $BTC at ~$72$3 bitcoin at ~$50$3. $MSTR$STRC$STRK$STRF$STRD$STR
— Michael Saylor (@saylor) December 15, 2025
Like the BTC strategy, Bitcoin has amassed the largest corporate Ethereum holdings in the world.
BitMine's total crypto, cash and investment holdings now stand at $13.3 billion.
It includes $1 billion in cash, a small bitcoin stake of 193 BTC, and a $38 million stake in Eightco Holdings.
The company operates mines in low-cost energy regions such as Texas and Trinidad.
However, this has strongly favored long-term ETH holdings with funding from capital increases and operational efficiencies.
Thomas “Tom” Lee of Fundstrat, Chairman of BitMine;
In the year 2025 has seen many positive developments in digital assets, including positive laws and favorable regulations passed by the US Congress, and strengthened Support from Wall Street. This reinforces our belief that the best days for crypto are ahead and why we are targeting the ‘5% alchemy' where we will continue to accumulate ETH.
Can ETH Bulls Hold the $3,000 Level?
BitMine's strategic buys were executed amid Ethereum's price comparison, with strong support near the $3,000 psychological level.
In the last 24 hours, the price of ETH hovered between $3,175 and $3,034.
If prices break below the $3k mark, ETH could retest the $2,720 lows seen on Dec.1.
Analysts, however, note that ETH has shown resilience and a good break above $3,100 could open up potential resistance around $3,500. Network upgrades, monetary policy easing and corporate acquisitions are likely to be major pressure drivers.
However, just as $90k is now a key resistance level for Bitcoin, $3,200-$3,300 is key for ETH.
