BitMine spends another $120 million to buy 38,000 Ethereum! ETH maintains consolidation at $3,100

On-chain data monitoring shows that BitMine, the world's largest Ethereum reserve company, is still continuing to increase its position in Ethereum, moving towards its 5% target.
(Preliminary summary: BitMine spent another $199 million to buy Ethereum at the bottom! But smart money is shorting ETH)
(Background supplement: BitMine spent $110 million to add 33,000 Ethereum! Tom Lee shouted: ETH has hit the bottom)

According to on-chain data monitoring platform OnchainLens According to news released this morning (14), BitMine Immersion Technologies (BMNR), the world's largest Ethereum reserve company, is suspected of creating a new wallet and withdrawing 23,637 ETH from the US cryptocurrency exchange Kraken, worth approximately US$73.4 million. On-chain analysis shows that the address most likely belongs to BitMine, consistent with its long-term buy-and-hold Ethereum strategy.

A newly created wallet withdrew 23,637 $ETH, worth $73.4M, from #Kraken. It likely belongs to #BitMine.

Address: 0x4a395bdc3507307ca223b9b1b3c20c6345f545eb pic.twitter.com/9ZpNrPLRHk

— Onchain Lens (@OnchainLens) December 14, 2025

Coincidentally, just yesterday (13th) evening, another on-chain monitoring platform The Data Nerd pointed out that BitMine once again accumulated 14,959 ETH, worth approximately US$45.99 million. The Ethereum came from cryptocurrency custodian BitGo and was subsequently transferred to BitMine’s treasury wallet.

The above two positions include a total of 38,596 Ethereums, worth approximately US$120 million.

Another $ETH accumulation of #Bitmine.

He did buy another 14,959 $ETH (~$45.99M)

Address: https://t.co/FsMpYqhMea https://t.co/HqIMTEZ4wV pic.twitter.com/kQHYOInuue

— The Data Nerd (@OnchainDataNerd) December 13, 2025

Ethereum currency price performance

According to OKX data, after experiencing a wave of decline on the evening of December 12, Ethereum is currently in a volatile consolidation stage, with the currency price temporarily quoted at $3,123, up 1.13% in the past 24 hours.

Bitcoin’s trend is similar. At the time of writing, the currency price temporarily fell to the level of 90,000 US dollars, and was temporarily reported at 90,360 US dollars.

In addition, according to Coinglass data, the amount of liquidation in the crypto market in the past 24 hours was relatively small, totaling approximately US$77 million. The amount of liquidation for long and short positions can be said to be evenly split.