Ethereum treasury firm BitMine Immersion Technologies acquired nearly $98 million worth of Ether as subdued year-end trading kept prices under pressure.
The company purchased 32,938 ETH in a single day as market conditions remained muted in the final week of 2025.
Data showed BitMine’s total Ether holdings have climbed to approximately 4.07 million ETH, valued at around $12 billion.
BitMine also staked an additional 118,944 ETH, reinforcing its strategy of generating passive yield for shareholders.
Fundstrat founder Tom Lee, who oversees BitMine’s Ethereum strategy, said seasonal factors were weighing on prices.
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.
Tom Lee said.
Analysts noted that tax-loss selling typically accelerates in late December as investors seek to offset gains.
Lee added that reduced institutional participation over the Christmas period has left automated trading systems dominating market activity.
Despite the broader market slowdown, BitMine continued accumulating Ether at a rapid pace.