BitMine Continues Ethereum Accumulation, Adds $81.26 Million in ETH Despite Stock Value Drop

A newly created wallet today received 28,625 ETH worth $81.26 million from institutional prime broker FalconX, according to transactions flagged by market analyst Onchain Lens. The transaction, which happened early today, November 24, is believed to be associated with the Ethereum treasury company BitMine. The new purchase, which highlights BitMine’s continued accumulation of Ether, brings the company’s total ETH holdings to over 3.5 million ETH, which is equivalent to almost 3% of the token’s circulating supply. The purchase indicates the company’s bold dedication to its strategic ETH reserve strategy despite the recent price slump.

BitMine’s Shares Plummet Amid Crypto Market Cooldown  

BitMine continues to build its ETH acquisition strategy amid the company’s declining stock prices and millions in unrealized losses on its balance sheet. On Friday, BitMine became the first big-cap crypto firm to declare an annual dividend. The move came as digital asset treasury (data) companies struggle due to the ongoing crypto market pullback. 

The latest ETH acquisition happened when Ethereum was hovering at $2,794.13, down 11% and 27.3% over the past week and month, respectively. The Ether price drop caused huge losses for BitMine’s balance sheet and significant falls in the company’s stock price. On Friday, November 22, 2025, the company announced $328 million in net income for its financial year that ended August 31. However, due to a 45% drop in ETH prices since its ATH of $4,953.73 noted on August 24, the firm currently sits on over $4 billion in unrealized losses on its holdings. 

The latest ETH purchase is part of BitMine’s ongoing, long-term Ethereum buying program, strengthening its position as a top corporate Ethereum holder.

The current price of Ethereum is $2,794.13.

ETH Price Prediction 

Ethereum is currently trading at $2,794.13, signaling continuing market pressure. Market analysts believe that holding the $2,400-$2,500 support region would determine whether the virtual currency could regain its upward trend towards $4,000 as a short-term consolidation continues. Ethereum and the larger cryptocurrency market have maintained a downturn momentum amid macro-economic uncertainty, concerns around the AI stocks bubble, slowed ETF demand, and cautious investor sentiment. If heavy selling continues to hit the crypto market and Ether fails to hold above $2,700, the token could next find its support at the $2,500 level.