BitMine Capitalized on Year-End Tax-Loss Selling With $98M ETH Buy

Ethereum treasury company BitMine Immersion Technologies scooped up $97.6 million worth of Ether on Tuesday as the crypto market remains muted in the final days of 2025.

Nansen data shows BitMine purchased 32,938 Ether (ETH). Other data shows its total holdings are now 4.07 million ETH, worth $12 billion.

BitMine also staked another 118,944 ETH, continuing its strategy to earn passive returns for shareholders.

BitMine’s latest buying spree comes amid a broader crypto market compression, which Tom Lee,  the orchestrator of BitMine’s Ethereum strategy, said was partly due to an uptick in tax-loss selling in the US:

“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.”

More tax-loss selling typically happens toward the end of December as individuals and institutions offload assets to offset profits and lower their taxable income for the year.

Lee, a founder and managing partner of Fundstrat, said crypto prices have also been affected by institutional investors taking a break during the Christmas period, as it leaves bots to dominate trading activity.